Updated Dec 4, 2024
High Fidelity Realty Acquires Multifamily Property In Chicago For $1.05M
618 South Racine Avenue
$1,050,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 31, 2024
About this deal
AI
A multifamily property located at 618 South Racine Avenue in Chicago has been sold for $1,050,000. The property is situated in a prominent area and offers attractive features for potential investors.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,050,000
- Address: 618 South Racine Avenue, Chicago
High Fidelity Realty, represented by Brett Murphy, acted as the buyer's representative in the sale of this property. On the other hand, Michael Galvan from Baird & Warner represented the seller. Both parties played a crucial role in facilitating the transaction.
This successful deal highlights the expertise and proficiency of both Brett Murphy of High Fidelity Realty and Michael Galvan of Baird & Warner. Their strong negotiation skills and in-depth knowledge of the market contributed to the smooth completion of the transaction at 618 South Racine Avenue in Chicago.
Players
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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93