Updated Dec 21, 2023
Brian Karmowski's Essex Realty Facilitates $11M Multifamily Sale On W. Algonquin Road, Chicago Suburbs
644 West Algonquin Road, Des Plaines, IL, USA
$11,000,000
$40/SF
Building Size
272,686 SF
Asset Type
MultiFamily
Closing
Aug 25, 2021
About this deal
AI
The multifamily property located at 644 W. Algonquin Road in the Chicago Suburbs of Des Plaines has been sold. The sale took place on August 25, 2021, and the transaction was facilitated by Brian Karmowski of Essex Realty. The property consists of 120 units and was sold for a total price of $11,000,000. This equates to an average price per unit of $91,667.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $11,000,000
- Units: 120
- Price per Unit: $91,667
- Broker: Brian Karmowski - Essex Realty
Brian Karmowski from Essex Realty represented the parties involved in the transaction. The sale of this multifamily property in Des Plaines marks a significant deal in the Chicago Suburbs market.
Des Plaines 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93