Updated Jan 28, 2025
Interra Realty Brokers $4.71M Sale Of Two Multifamily Properties In Chicago
6405 North Wayne Avenue & 1933 South May Street
$4,710,000
Units
21
Asset Type
MultiFamily
Closing
Jan 9, 2025
About this deal
AI
The transaction involved two multifamily properties in Chicago: a 16-unit building located at 6405 North Wayne Avenue sold for $3.45 million and a five-unit rental community at 1933 South May Street, which was sold for $1.26 million. The total sale price for both properties amounted to $4,710,000, with the overall unit count being 21, resulting in a price per unit of $224,286.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,710,000
- Units: 21
- Price per Unit: $224,286
- Address: 6405 North Wayne Avenue, Chicago
- Address: 1933 South May Street, Chicago
- Brokers: Brad Feldman & Jeremy Morton - Interra Realty
Senior Managing Partner Brad Feldman represented both the buyers and sellers in the deals, emphasizing the value created through renovations and operational improvements in the multifamily properties sold.
On the Map
$4,710,000
MultiFamily
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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
3.37%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93