Updated Oct 28, 2024
Horizon Realty Acquires Multifamily Property In Edgewater, Chicago For $38.5M
5600 North Sheridan Road, Chicago, Illinois 60660, United States
$38,500,000
$389/SF
Building Size
98,800 SF
Asset Type
MultiFamily
Closing
Aug 8, 2022
About this deal
AI
The multifamily property located at 5600 North Sheridan Road in Edgewater, Chicago, has been sold in a closed transaction for $38,500,000. The property consists of 133 units, with an average price per unit of $289,474. The total square footage of the property is 98,800, with a price per square foot of $390.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $38,500,000
- Units: 133
- Price per Unit (PPU): $289,474
- Square Footage (SF): 98,800
- Price per Square Foot (PPSF): $390
- Market: Edgewater, Chicago
The buyer of the property is Horizon Realty, represented by Danny Michael of the same agency. The seller of the property is Alcion Ventures.
On the Map
$38,500,000
$389/SF
MultiFamily
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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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93