Christopher Sackley Of Greystone Represents Seller In $16M Sale At 560 Darlington Ln Crystal Lake
560 Darlington Ln, Crystal Lake, IL, 6...
$16,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 19, 2023
AI
Darlington Court Apartments, located at 560 Darlington Ln, Crystal Lake, IL, features a multifamily setup that includes 209 apartments and 26 privately owned condominiums. The total transaction price was $16,000,000. The property was constructed in the 1970s, offering one- and two-bedroom apartments ranging in size from 681 to 942 square feet. Amenities include laundry facilities, a children’s play area, a swimming pool, and storage units. The buyer has plans to convert the condominium units into rental apartments and renovate the interiors and common areas across the complex.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,000,000.00
- Address: 560 Darlington Ln, Crystal Lake, IL
- Market: Crystal Lake
- Seller's Representative: Christopher Sackley - Greystone
- Seller: Darlington Properties LLC
- Buyer: Unknown
Bill Montana and Chris Sackley of Greystone played a significant role in brokering the transaction on behalf of the seller. The buyer's intent to renovate the property indicates a strategic interest in enhancing its market value in the future.
Players
Crystal Lake 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93