Updated Dec 4, 2024
Interra Realty Brokers $1.8M Sale Of 16-Unit Multifamily In West Ridge, Chicago
6254 North Whipple Street
$1,800,000
Units
16
Asset Type
MultiFamily
Closing
Oct 10, 2023
About this deal
AI
A 16-unit apartment building located at 6254 North Whipple Street in West Ridge, Chicago has been sold in a transaction brokered by Brad Feldman of Interra Realty. The property was purchased by a new owner for a total sale price of $1,800,000, with each unit priced at $112,500. This sale marks Interra Realty's first transaction in over 50 years in the area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,800,000
- Address: 6254 North Whipple Street, West Ridge, Chicago
- Market: West Ridge, Chicago
The seller, Jeff Selim, entrusted Brad Feldman from Interra Realty to represent him in this transaction. The new owner plans to carry out renovations and updates to improve the property.
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93