Updated Dec 5, 2024
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
Units
4
Asset Type
MultiFamily
Closing
Nov 20, 2024
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $1,020,000
- Units: 4
- Price Per Unit: $255,000
- Buyer's Representative: Karen Biazar & Lisa Magidson - North Clybourn Group
- Seller's Representative: Tina Hollins - Coldwell Banker
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.
On the Map
$1,020,000
MultiFamily
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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