Chicago Real Estate Resources (CRER) Facilitates $4M Multifamily Sale In South Side, Chicago
SOLD
$4,000,000
Illinois
See Similar DealsMultiFamily
Sold 02/16/2022
SOLD
Chicago Real Estate Resources (CRER) Facilitates $4M Multifamily Sale In South Side, Chicago
6820 South Michigan Avenue, Chicago, Illinois 60653, United States
See Similar DealsMultiFamily
Sold 02/16/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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