Updated Sep 14, 2026
Marland Hobbs Purchases Multifamily Asset From Leo Pocius In Chicago For $4,805,000
5140 South Woodlawn Avenue
$4,805,000
$162/SF
Building Size
29,500 SF
Asset Type
MultiFamily
Closing
Sep 2, 2026
About this deal
AI
The transaction involved a multifamily property located at 5140 South Woodlawn Avenue in the Chicago market. The asset was sold for $4,805,000, encompassing 29,500 square feet. The sale included a total of 51 units, resulting in a price per unit of $94,215 and a price per square foot of $162.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,805,000
- Units: 51
- Square Footage: 29,500
- Price Per Unit: $94,215
- Price Per Square Foot: $162
- Buyer: Marland Hobbs
- Seller: Leo Pocius
- Brokers: Robert Berman & Jeremy DeMarco - Nara Realty Advisors
Marland Hobbs acquired the property from Leo Pocius with representation from brokers Robert Berman and Jeremy DeMarco of Nara Realty Advisors, facilitating the transaction in the Chicago market on September 2, 2026.
On the Map
$4,805,000
$162/SF
MultiFamily
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Players
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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93