Sal Becovic Acquires Multifamily Property In Chicago For $31.5M
SOLD
$31,500,000
Illinois
See Similar DealsMultiFamily144,900 SF
Sold 10/19/2023
SOLD
Sal Becovic Acquires Multifamily Property In Chicago For $31.5M
6166 North Sheridan Road
See Similar DealsMultiFamily144,900 SF
Sold 10/19/2023
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$217
Total Square Footage:144,900 SF
Transaction Type:Sale
The multifamily property located at 6166 North Sheridan Road in Chicago has been sold in a recent transaction. The property spans 144,900 square feet and was sold for a price of $31,500,000, resulting in a price per square foot of $217.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,500,000
- Square Footage: 144,900
- Address: 6166 North Sheridan Road, Chicago
- Market: Chicago
The buyer of the property is Sal Becovic, while the seller is the Granville Tower Condominium Association, represented by Patrick O'Dwyer. The brokers involved in the deal were Andrew (Andy) Friedman and Jake Parker from the Kiser Group.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,680,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$111,912.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,326.07
Annual Debt Service$1,791,912.85
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