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David Pezzola Acquires Multifamily Portfolio In Kenwood, Chicago For $27M

Property Image
SOLD
$27,000,000
Samuel (Sam) Gutierrez
Ted Stratman
Lucas Fryman
+ 3

Illinois

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MultiFamily
Sold 12/16/2022
the dealplayerscompscontact
Property Image
SOLD

David Pezzola Acquires Multifamily Portfolio In Kenwood, Chicago For $27M

4500 South Drexel Boulevard, Chicago, Illinois 60653, United States

See Similar Deals
MultiFamily
Sold 12/16/2022
Samuel (Sam) Gutierrez
Ted Stratman
Lucas Fryman
+ 3
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located in Kenwood, Chicago has been sold in a closed transaction. The property includes multiple addresses: 4500 S. Drexel, 4737 S Ingleside, 4746 S. Ingleside, 811 E 46th, 4001 S. Ellis, and 4433 S. Greenwood. The sale was completed on December 16, 2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $27,000,000
  • Units: 204
  • Price Per Unit (PPU): $132,353

The buyer of the property is David Pezzola, while the sellers are Mendy Raskin and Jonathan Kranzler. The deal was facilitated by brokers Lucas Fryman, Ted Stratman, and Samuel (Sam) Gutierrez from Interra Realty.

Players

Lucas Fryman
Interra Realty
Lucas Fryman
42 deals$278.6M volume
BROKER
Ted Stratman
Interra Realty
Ted Stratman
39 deals$243.7M volume
BROKER
Samuel (Sam) Gutierrez
Interra Realty
Samuel Gutierrez
15 deals$73M volume
BROKER
DP
David Pezzola
2 deals$54M volume
BUYER
Mendy Raskin
Mendy Raskin
6 deals$93.2M volume
SELLER
Mendy Raskin
Mendy Raskin
6 deals$93.2M volume
SELLER
JK
Jonathan Kranzler
4 deals$67.7M volume
SELLER

Details

SOLD
IMAGE: Ted Stratman, Lucas Fryman & Samuel Gutierrez DATE: 12/16/2022 ADDRESS: 4500 S. Drexel, 4737 S Ingleside, 4746 S. Ingleside, 811 E 46th, 4001 S. Ellis, 4433 S. Greenwood MARKET: Kenwood, Chicago ASSET TYPE: Multifamily BUYER: David Pezzola SELLER: Mendy Raskin & Jonathan Kranzler BROKERS: Lucas Fryman (@LFrydaddy), Ted Stratman (@TStratman) & Samuel (Sam) Gutierrez (@SamGutierrez1) - Interra Realty (@InterraRealty) SALE PRICE: $27,000,000 UNITS: 204 ~ PPU: $132,353

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,440,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$95,925.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,993.77
Annual Debt Service$1,535,925.30