Updated Oct 29, 2024
FCA Acquires Orchard Estates In Alsip For $11.1M
4600 W 122nd St, Chicago, IL, 60803
$11,100,000
Units
156
Asset Type
MultiFamily
Closing
Nov 22, 2023
About this deal
AI
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.
On the Map
$11,100,000
MultiFamily
View full map
Players
Alsip MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse Alsip multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.43%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93