Chicago Metropolitan Housing Development Corporation (CMHDC) & DAG Vine Place LLC Acquire Multifamily Property In Chicago & Park Ridge From John Scorte For $14.1M
SOLD
$14,100,000
Illinois
See Similar DealsMultiFamily750 SF
Sold 01/14/2021
SOLD
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
See Similar DealsMultiFamily750 SF
Sold 01/14/2021
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$18,800
Total Square Footage:750 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$751,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,094.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,841.19
Annual Debt Service$802,094.32
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