Updated Dec 18, 2023
Essex Realty Group Facilitates $1.94M Sale Of Prospect Heights Multifamily Portfolio
508 Love Drive, Prospect Heights, Illinois 60070, United States
$1,940,000
Units
24
Asset Type
MultiFamily
Closing
Mar 17, 2022
About this deal
AI
Chicago-based multifamily brokerage firm Essex Realty Group recently facilitated the sale of a portfolio of four, six-unit multifamily properties in Prospect Heights. The properties are located within the Wimbledon Lakes Estates apartment complex.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,940,000
- Units: 24
- Price Per Unit (PPU): $80,833
The portfolio consists of four separate properties: 508 Love Drive, 510 Love Drive, 511 Love Drive, and 512 Wimbleton Drive. The transaction date was March 18, 2022.
The brokers involved in the deal were Brian Karmowski and Anthony Citriglia from Essex Realty Group. They represented the parties in this transaction.
NOTE: Anthony Citriglia & Brian Karmowski were involved in this transaction as representatives of Essex Realty Group.Players
Prospect Heights 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
8.18%
Cash-on-Cash
-2.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93