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6103 South University Avenu...

Washington & Hyde Park Properties, LLC Sells 6-Unit Multifamily Property In Woodlawn, Chicago For $1.66M With Nate Gautsche As Seller's Rep
SOLDMultiFamily

Washington & Hyde Park Properties, LLC Sells 6-Unit Multifamily Property In Woodlawn, Chicago For $1.66M With Nate Gautsche As Seller's Rep

6103 South University Avenue, Chicago, IL 60637

$1,665,000

$139/SF

Building Size

11,960 SF

Asset Type

MultiFamily

Closing

Dec 15, 2021

AI

Located at 6103 S University Ave in Chicago, IL, this multifamily property recently closed in a sale transaction. The property consists of 6 units, offering a total of 11,960 square feet of space. The sale price for this investment property was $1,665,000, resulting in a price per unit (PPU) of $277,500. The price per square foot (PPSF) was $139. This sale sets a new record for the highest ever sales price per unit in the Woodlawn neighborhood of Chicago (Source: Costar & MLS).

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,665,000
  • Address: 6103 S University Ave, Chicago, IL
  • Market: Chicago, IL
  • Units: 6
  • Price per Unit: $277,500
  • Total Square Feet: 11,960
  • Price per Square Foot: $139

Nate Gautsche, representing CRER, played a key role in this transaction as the listing broker. Nate's expertise and relationships in the Woodlawn neighborhood allowed him to secure multiple offers, both locally and from out of state, within the first 30 days of listing the property. This successful sale adds to Nate's impressive track record in Woodlawn, marking his 8th transaction in the area. It is worth noting that this deal follows another record-setting sale earlier this year at 6100 S. Drexel, which is set to bring the largest market rate multifamily development to Woodlawn in over 50 years.

Players

Nathan Gautsche

CRER (Chicago Real Estate Resources)

Broker

$44.6M

vol

15 deals

Broker

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

9.53%

Cash-on-Cash

-2.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93