Updated Dec 4, 2024
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
About this deal
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.
On the Map
$1,080,000
$327/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
14.69%
Cash-on-Cash
-4.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93