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Michael Scanlon Acquires Multifamily Property In Bronzeville, Chicago For $1.1M

Property Image
SOLD
$1,099,000
Karen Biazar

Illinois

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MultiFamily4,800 SF
Sold 10/19/2022
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Property Image
SOLD

Michael Scanlon Acquires Multifamily Property In Bronzeville, Chicago For $1.1M

4906 South Saint Lawrence Avenue, Chicago, Illinois 60653, United States

See Similar Deals
MultiFamily4,800 SF
Sold 10/19/2022
Karen Biazar
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$229
Total Square Footage:4,800 SF
Transaction Type:Sale

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

Karen Biazar
24 deals$34.4M volume
BROKER

Michael Scanlon
EXP Realty
14 deals$17.5M volume
BROKER

Details

SOLD
IMAGE: Michael Scanlon DATE: 10/19/2022 ADDRESS: 4906 S St Lawrence Ave MARKET: Bronzeville, Chicago, IL ASSET TYPE: Multifamily BUYER: Michael Scanlon SELLER: Tom Primbas BUYER'S REP: Michael Scanlon (@MichaelScanlonRealtor) - Exp Realty (@ExpRealty_) SELLER'S REP: Karen Biazar (@KarenBiazar) - North Clybourn Group, Inc (@NCGChicago) SALE PRICE: $1,099,000 UNITS: 3 ~ PPU: $366,333 SF: 4,800 ~ PPSF: $229

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,904.52
Cash-on-Cash Return-1.27%
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