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560 Darlington Ln, Crystal ...

Christopher Sackley Of Greystone Represents Seller In $16M Sale At 560 Darlington Ln Crystal Lake
SOLDMultiFamily

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

Christopher Sackley

Global Real Estate Advisors (GREA)

Broker

$81.8M

vol

3 deals

Broker
Greystone
GreystoneBrokerage

Crystal Lake MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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