Michael Scanlon Acquires Multifamily Property In Bronzeville, Chicago For $1.1M
4906 South Saint Lawrence Avenue, Chicago, Illinois 60653, United States
$1,099,000
$229/SF
Building Size
4,800 SF
Asset Type
MultiFamily
Closing
Oct 18, 2022
AI
A multifamily property located at 4906 S St Lawrence Ave in Bronzeville, Chicago, IL, has been sold. The property consists of 3 units with a total square footage of 4,800. The sale price for this transaction was $1,099,000, resulting in a price per unit of $366,333 and a price per square foot of $229.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,099,000
- Units: 3
- Price per Unit: $366,333
- Square Footage: 4,800
- Price per Square Foot: $229
Michael Scanlon purchased the property from the seller, Tom Primbas. Michael Scanlon was represented by Michael Scanlon of Exp Realty, while Tom Primbas was represented by Karen Biazar of North Clybourn Group, Inc.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.43%
Cash-on-Cash
-4.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93