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

Property Image
SOLD
$1,080,000
Marco Cesario
Ariel Bo Pang

Illinois

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MultiFamily3,300 SF
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Property Image
SOLD

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

533 West Wrightwood Avenue

See Similar Deals
MultiFamily3,300 SF
Sold
Marco Cesario
Ariel Bo Pang
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$327
Total Square Footage:3300 SF
Transaction Type:Sale

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
Marco Cesario
4 deals$19.8M volume(312) 315-7173
BROKER
Ariel Bo Pang
The Apartment Source
Ariel Bo Pang
2 deals$2.4M volume(847) 902-3419
BROKER

Details

SOLD
IMAGE: Ariel Bo Pang & Marco Cesario DATE: 07/02/2024 ADDRESS: 533 West Wrightwood Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Ariel Bo Pang - The Apartment Source (@ApartmentSource) SELLER'S REP: Marco Cesario (@Mrblue1980) - Jameson Commercial (@Jameson.Commercial) SALE PRICE: $1,080,000 SF: 3,300 ~ PPSF: $327 NOTE: 533 West Wrightwood Avenue in Chicago's Lincoln Park sold for $1.08 million. The property includes a 2-bedroom duplex and four 1-bedroom units, with three units updated with high-end finishes and HVAC systems, and potential for further value-add improvements.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$57,600.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,837.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,119.75
Annual Debt Service$61,437.01