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533 West Wrightwood Avenue

Ariel Bo Pang Acquires Multifamily Property In Lincoln Park, Chicago For $1.08M
SOLDMultiFamily

Ariel Bo Pang Acquires Multifamily Property In Lincoln Park, Chicago For $1.08M

533 West Wrightwood Avenue

$1,080,000

$327/SF

Building Size

3,300 SF

Asset Type

MultiFamily

Closing

Jul 2, 2024

AI

533 West Wrightwood Avenue in Chicago's Lincoln Park is a multifamily property that was sold for $1.08 million. The property consists of a 2-bedroom duplex and four 1-bedroom units. Three of the units have been updated with high-end finishes and HVAC systems, offering potential for further value-add improvements.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,080,000
  • Address: 533 West Wrightwood Avenue
  • Market: Chicago
  • Square Footage: 3,300
  • Price per Square Foot: $327

Ariel Bo Pang from The Apartment Source represented the buyer in this transaction, while Marco Cesario from Jameson Commercial represented the seller. Both parties played key roles in the successful sale of this multifamily property.

Players

Marco Cesario

Jameson Commercial

Broker

$19.8M

vol

4 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

14.69%

Cash-on-Cash

-4.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93