Updated Sep 9, 2024
Marcus & Millichap Sells MultiFamily Property In Chicago For $1.3M
5663 W Higgins Ave, Chicago, IL, 60630
$1,300,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 5, 2019
About this deal
AI
The six-unit apartment property located at 5663 W. Higgins Avenue in Chicago, IL, 60630 was recently sold for $1,300,000. The property features a mix of two- and three-bedroom apartments with granite countertops, hardwood floors, and private decks in the rear. Situated near various Chicago Transit Authority (CTA) bus stops and the Jefferson Park Blue Line train stop, this newer construction property offers modern amenities in a convenient location.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,300,000.00
- Seller's Representative: Kyle Stengle (Marcus & Millichap)
- Buyer: Unknown
Kyle A. Stengle, the senior vice president investments at Marcus & Millichap’s Chicago Downtown office, played a key role in exclusively marketing the property on behalf of the seller. The efficient transaction of this multi-family property reflects the expertise and dedication of the involved parties in the Chicago real estate market.
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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93