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Hayes Properties Acquires Two Multifamily Buildings In Chicago For $13M Through Interra Realty

Property Image
SOLD
$13,000,000
Mark Dykstra
Joe Smazal
Colin O’Malley

Illinois

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MultiFamily
Sold 08/28/2025
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Property Image
SOLD

Hayes Properties Acquires Two Multifamily Buildings In Chicago For $13M Through Interra Realty

611 West Arlington Place & 567 West Arlington Place

See Similar Deals
MultiFamily
Sold 08/28/2025
Mark Dykstra
Joe Smazal
Colin O’Malley
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved the sale of two fully occupied vintage multifamily apartment buildings located at 611-13 West Arlington Place and 567-69 West Arlington Place, situated in the Chicago market. The total sale price for the properties was $13,000,000, and the combined units total 37, resulting in a price per unit of $351,351.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $13,000,000
  • Buyer: Hayes Properties
  • Brokers: Colin O’Malley, Joe Smazal & Mark Dykstra - Interra Realty
  • Units: 37
  • Price Per Unit: $351,351

Interra Realty facilitated the transaction, successfully brokering the sale of the two buildings. Hayes Properties acquired the property at 611-13 W. Arlington, while a separate, confidential buyer purchased the adjacent building at 567-69 W. Arlington, highlighting the active interest in multifamily assets in Lincoln Park.

Players

Joe Smazal
Interra Realty
Joe Smazal
73 deals$596.9M volume
BROKER
Mark Dykstra
Interra Realty
Mark Dykstra
11 deals$102M volume
BROKER
Colin O’Malley
Interra Realty
Colin O’Malley
8 deals$73.7M volume(312) 361-3138
BROKER
Interra Realty
Interra Realty
BROKERAGE

Details

SOLD
IMAGE: Colin O’Malley, Joe Smazal & Mark Dykstra DATE: 08/28/2025 ADDRESS: 611-13 West Arlington Place & 567-69 West Arlington Place MARKET: Chicago ASSET TYPE: Multifamily BUYER: Hayes Properties BROKERS: Colin O’Malley, Joe Smazal (@JSmazal) & Mark Dykstra (@Mark_Dykstra24) - Interra Realty (@InterraRealty) SALE PRICE: $13,000,000 UNITS: 37 ~ PPU: $351,351 NOTE: Interra Realty brokered the $13M+ sale of two fully occupied vintage apartment buildings on Arlington Place in Chicago’s Lincoln Park. Hayes Properties acquired 611-13 W. Arlington, while a separate confidential buyer purchased 567-69 W. Arlington.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$693,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59