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Mavrek Development Sells Multifamily Assets In Chicago For $16.9M

Property Image
SOLD
$16,900,000
Jon Morgan
David Goss
+ 1

Illinois

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MultiFamily
Sold 12/07/2021
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Property Image
SOLD

Mavrek Development Sells Multifamily Assets In Chicago For $16.9M

4714 N Sheridan Rd, Chicago, IL, USA

See Similar Deals
MultiFamily
Sold 12/07/2021
Jon Morgan
David Goss
+ 1
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 4714 N. Sheridan Rd & 843 W. Agatite Ave in Chicago has been sold for a total price of $16,900,000. The property consists of 50 units, resulting in a price per unit of $338,000. This sale was facilitated by the brokers Jon Morgan, David Goss, Joe Smazal, and Colin O’Malley from Interra Realty on behalf of the seller, Mavrek Development.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $16,900,000
  • Address: 4714 N. Sheridan Rd & 843 W. Agatite Ave, Chicago
  • Market: Chicago
  • Seller: Mavrek Development
  • Brokers: Jon Morgan, David Goss, Joe Smazal, and Colin O’Malley - Interra Realty
  • Units: 50
  • Price per Unit: $338,000

The deal brings together key individuals and companies in the real estate industry. Jon Morgan, David Goss, Joe Smazal, and Colin O’Malley from Interra Realty represented the seller, Mavrek Development. Their expertise helped facilitate the successful transaction of this multifamily property in Chicago.

Players

Joe Smazal
73 deals$596.9M volume
BROKER

David Goss
8 deals$133.4M volume
BROKER

Jon Morgan
Interra Realty
10 deals$146.8M volume
BROKER

Colin O'Malley
Interra Realty
3 deals$43.2M volume
BROKER

SELLER

Details

SOLD
IMAGE: Colin O’Malley, Joe Smazal, Jon Morgan & David Goss DATE: 12/07/2021 ADDRESS: 4714 N. Sheridan Rd & 843 W. Agatite Ave MARKET: Chicago ASSET TYPE: Multifamily SELLER: Mavrek Development BROKERS: Jon Morgan, David Goss, Joe Smazal & Colin O’Malley - Interra Realty SALE PRICE: $16,900,000 UNITS: 50 ~ PPU: $338,000

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

$901,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$60,042.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,114.62
Annual Debt Service$961,375.46