Updated Dec 21, 2023
Chicago Real Estate Resources (CRER) Facilitates $4M Multifamily Sale In South Side, Chicago
6820 South Michigan Avenue, Chicago, Illinois 60653, United States
$4,000,000
Units
85
Asset Type
MultiFamily
Closing
Feb 15, 2022
About this deal
AI
The properties involved in this closed transaction are located in the South Side of Chicago. The addresses include 6820 S Michigan, 6957 S Michigan, 7201 S King, 8439 S Blackstone, and 1649 E 85th Pl. These properties are classified as multifamily assets.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Units: 85
- Price per Unit: $47,059
- Broker: Finley Askin - Chicago Real Estate Resources (CRER)
- Date: 02/16/2022
The broker overseeing this transaction is Finley Askin from Chicago Real Estate Resources (CRER). The sale price for the properties was $4,000,000, with a total of 85 units. The price per unit was approximately $47,059.
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93