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6166 North Sheridan Road

Sal Becovic Acquires Multifamily Property In Chicago For $31.5M
SOLDMultiFamily

Sal Becovic Acquires Multifamily Property In Chicago For $31.5M

6166 North Sheridan Road

$31,500,000

$217/SF

Building Size

144,900 SF

Asset Type

MultiFamily

Closing

Oct 19, 2023

AI

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

Andrew Friedman

Kiser Group

Broker

$131.5M

vol

20 deals

Broker
Sal Becovic

Sal Becovic

Becovic

Buyer

$94.5M

vol

10 deals

Buyer

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

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93