Chicago Metropolitan Housing Development Corporation (CMHDC) & DAG Vine Place LLC Acquire Multifamily Property In Chicago & Park Ridge From John Scorte For $14.1M
4848 West Wrightwood Avenue, Chicago, IL, USA
$14,100,000
$18,800/SF
Building Size
750 SF
Asset Type
MultiFamily
Closing
Jan 13, 2021
AI
The multifamily property located at 4848 W. Wrightwood Avenue and 400 W. Talcott Road in Chicago and Park Ridge was recently sold for $14,100,000. The transaction was facilitated by brokers Craig Martin and Brian DiBasilio from Interra Realty. The property consists of 67 units, making the per unit price $210,448.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $14,100,000
- Market: Chicago & Park Ridge
- Buyers: Chicago Metropolitan Housing Development Corporation (CMHDC) & DAG Vine Place LLC
- Seller: John Scorte
- Brokers: Craig Martin & Brian DiBasilio - Interra Realty
- Units: 67
- Per Unit Price: $210,448
The buyers in this transaction were the Chicago Metropolitan Housing Development Corporation (CMHDC) and DAG Vine Place LLC. The seller was John Scorte. The deal was successfully executed with the assistance of brokers Craig Martin and Brian DiBasilio from Interra Realty.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93