Envoi Partners Acquires Multifamily Property In Chicago For $9.2M
SOLD
Illinois
See Similar DealsMultiFamily49,147 SF
Sold 12/23/2022
SOLD
Envoi Partners Acquires Multifamily Property In Chicago For $9.2M
5920 North Ridge Avenue
See Similar DealsMultiFamily49,147 SF
Sold 12/23/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$187
Total Square Footage:49,147 SF
Transaction Type:Sale
The multifamily property located at 5920 North Ridge Avenue in Chicago has been sold for $9,200,000. The property spans a total area of 49,147 square feet, resulting in a price per square foot of $187. The transaction involved Envoi Partners as the buyer and Castlerock Properties as the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,200,000
- Address: 5920 North Ridge Avenue, Chicago
- Market: Chicago
The deal was facilitated by Lee Kiser, Andrew (Andy) Friedman, and Jake Parker from Kiser Group, who represented their respective clients in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$490,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,685.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,612.69
Annual Debt Service$523,352.32
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