SOLD
FCA Acquires Orchard Estates In Alsip For $11.1M
4600 W 122nd St, Chicago, IL, 60803
See Similar DealsMultiFamily
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in the sale is Orchard Estates, a 156-unit apartment complex located at 4600 W 122nd St in Alsip, Illinois. Built in 1973, the property consists of six three-story buildings situated on a 6.2-acre lot. The complex comprises 72 one-bedroom units and 84 two-bedroom units, with an impressive 96 percent occupancy rate at the time of the transaction. The sale was brokered by Marcus & Millichap for a total of $11.1 million.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $11,100,000.00
- Market: Alsip
- Seller's Representative: Ryan Engle (Marcus & Millichap)
- Buyer: FCA
Ryan Engle of Marcus & Millichap played a pivotal role in this transaction by representing the seller and successfully procuring the buyer, FCA. The identities of both the seller and buyer remain undisclosed, adding a layer of confidentiality to the deal. The Orchard Estates sale underscores the strong demand and investment activity in the multifamily real estate sector within the Alsip market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$592,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,435.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,619.66
Annual Debt Service$631,435.96
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