Updated Oct 28, 2024
Albion Residential Acquires Multifamily In Palatine For $139.3M
500 East Constitution Drive, Palatine, Illinois 60074, United States
$139,300,000
$811/SF
Building Size
171,626 SF
Asset Type
MultiFamily
Closing
Jul 10, 2022
About this deal
AI
A multifamily property located at 500 E Constitution Dr in Palatine was recently sold for a reported price of $139,300,000. The property consists of 612 units, resulting in a price per unit of approximately $227,614. The transaction took place on 07/11/2022, as per the available information.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $139,300,000
- Address: 500 E Constitution Dr
- Market: Palatine
- Buyer: Albion Residential - Jason Koehn
- Seller: Broadshore Capital Partners
- Number of Units: 612
- Price Per Unit: $227,614
The buyer of the property was Albion Residential, represented by Jason Koehn, while the seller was Broadshore Capital Partners. The details regarding the financing or any other aspects of the deal were not provided in the available information.
Players
Palatine MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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About $811 per square foot on a published $139.3M for 171,626 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93