TLC Management Acquires Edgewater Multifamily From Greenstone Property Group For $43M
SOLD
$43,000,000
Illinois
See Similar DealsMultiFamily768 SF
Sold 09/02/2021
SOLD
TLC Management Acquires Edgewater Multifamily From Greenstone Property Group For $43M
5815 N Sheridan Rd, Edgewater, Chicago, IL, USA
See Similar DealsMultiFamily768 SF
Sold 09/02/2021
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$55,989
Total Square Footage:768 SF
Transaction Type:Sale
A multifamily property located at 5815 N. Sheridan in Edgewater has been sold for a total of $43,000,000. The property consists of 188 units, with each unit valued at an average price of $228,723. The sale took place on September 2, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Address: 5815 N. Sheridan
- Market: Edgewater
The buyer of the property is TLC Management, while the seller is Greenstone Property Group. The deal was brokered by Lee Kiser from Kiser Group. This transaction highlights the successful collaboration between the buyer, seller, and the broker representative, ensuring a smooth and efficient transfer of the property ownership.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,293,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$152,769.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$203,841.94
Annual Debt Service$2,446,103.25
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