North Park Ventures Acquires Multifamily Property In Evanston For $35.3M
SOLD
$35,300,000
Illinois
See Similar DealsMultiFamily
Sold 08/04/2022
SOLD
North Park Ventures Acquires Multifamily Property In Evanston For $35.3M
605 Hinman Avenue, Evanston, Illinois 60202, United States
See Similar DealsMultiFamily
Sold 08/04/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 605-617 Hinman Avenue, 1000-1010 Hinman Avenue, 800-810 Michigan Avenue, 929-935 Michigan Avenue, and 910-916 Judson Avenue in Evanston was recently sold for a total of $35,300,000. The sale took place on 08/04/2022. The property consists of 164 units, with an average price per unit of $215,244.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,300,000
- Units: 164
- Price Per Unit: $215,244
The buyer of the property was North Park Ventures, while the seller was Wirtz Residential - Rocky Wirtz.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,882,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$125,413.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$167,340.01
Annual Debt Service$2,008,080.11
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