Updated Sep 9, 2024
Thomas Klahn's Quest Realty Group Acquires Chicago Multifamily For $2.52M
46 E Cedar St Chicago, Il 60611, Usa
$2,520,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 1, 2023
About this deal
AI
This historic Gold Coast Greystone home in Chicago, built by Potter Palmer, is being offered for sale at a price of $2,520,000. The property is a rare investment opportunity, featuring a sun-filled duplex unit, a private rooftop deck, and three fireplaces. Its prime location near Lake Michigan and upscale amenities make it an elegant and sought-after property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,520,000
- Address: 46 East Cedar Street, Chicago
- Market: Chicago
Thomas Klahn from Quest Realty Group represented the buyer in this transaction, while Carrie McCormick Properties represented the seller. The buyer's representative, Thomas Klahn, played a key role in facilitating the deal, ensuring a smooth transaction for the buyer. Carrie McCormick, as the seller's representative, utilized her expertise in the Chicago market to negotiate the terms of the sale.
On the Map
$2,520,000
MultiFamily
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Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.29%
Cash-on-Cash
-1.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93