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4934 South Michigan Avenue

Karen Biazar And Lisa Magidson Of North Clybourn Group Represent Buyer In Chicago Multifamily Sale For $1.02M
SOLDMultiFamily

Karen Biazar And Lisa Magidson Of North Clybourn Group Represent Buyer In Chicago Multifamily Sale For $1.02M

4934 South Michigan Avenue

$1,020,000

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2024

AI

A 4-unit multifamily building located at 4934 South Michigan Avenue in Chicago's Bronzeville neighborhood has been sold for $1.02 million. The property comprises updated apartments, including a furnished garden unit, generating income potential, with one unit delivered vacant. The price per unit is $255,000.

Summary of transaction details:

The transaction was facilitated by the representation of Karen Biazar and Lisa Magidson from North Clybourn Group for the buyer. The seller's side was represented by Tina Hollins from Coldwell Banker.

Players

Karen Biazar

North Clybourn Group

Broker

$34.4M

vol

24 deals

Broker

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

15.55%

Cash-on-Cash

-4.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93