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Thomas Klahn's Quest Realty Group Acquires Chicago Multifamily For $2.52M

Property Image
SOLD
$2,520,000
Carrie McCormick
Thomas Klahn

Illinois

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MultiFamily
Sold 08/01/2023
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Property Image
SOLD

Thomas Klahn's Quest Realty Group Acquires Chicago Multifamily For $2.52M

46 E Cedar St Chicago, Il 60611, Usa

See Similar Deals
MultiFamily
Sold 08/01/2023
Carrie McCormick
Thomas Klahn
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

Carrie McCormick
At Properties Commercial
Carrie McCormick
34 deals$109.1M volume
BROKER
Thomas Klahn
Quest Realty Group
Thomas Klahn
1 deal$2.5M volume(773) 319-1175
BROKER

Details

SOLD
IMAGE: Thomas Klahn & Carrie McCormick DATE: 08/01/2023 ADDRESS: 46 East Cedar Street MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Thomas Klahn (@NightTrainKlahn)- Quest Realty Group (@Quest_Realty_Group) SELLER'S REP: Carrie McCormick (@CarrieMcCormickRealEstate) - @properties (@Atproperties) SALE PRICE: $2,520,000 NOTE: This historic Gold Coast Greystone home in Chicago, built by Potter Palmer, offers a rare investment opportunity with a sun-filled duplex unit, private rooftop deck, and three fireplaces. Its prime location near Lake Michigan and upscale amenities make it an elegant and sought-after property.

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

$134,400.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,953.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,946.09
Annual Debt Service$143,353.03