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
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.
Players
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