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6881 North Overhill Avenue

Updated Dec 4, 2024

Peter Fotopoulos Secures $2.79M Sale Of Multifamily Building In Chicago's Edison Park
SOLDMultiFamily

Peter Fotopoulos Secures $2.79M Sale Of Multifamily Building In Chicago's Edison Park

6881 North Overhill Avenue

$2,787,500

Units

20

Asset Type

MultiFamily

Closing

Jul 15, 2024

About this deal

AI

The $2.79 million sale of a 20-unit multifamily building at 6881 North Overhill Avenue in Chicago's Edison Park has been successfully brokered by Peter Fotopoulos of Dream Town Real Estate. The property, owned by the same family since 1945, offers a mix of one- and two-bedroom units, presenting a significant value-add opportunity for boosting rents and overall property value.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,787,500
  • Units: 20
  • Price Per Unit: $139,375
  • Address: 6881 North Overhill Avenue
  • Market: Chicago

Peter Fotopoulos, representing Dream Town Real Estate, played a crucial role in finalizing the sale of this well-maintained multifamily property. The transaction highlights the potential for value appreciation through strategic rent increases and property enhancements, making it an appealing investment opportunity for the future.

On the Map

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$2,787,500

MultiFamily

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Players

Peter Fotopoulos

Dream Town Real Estate

Broker

$2.8M

vol

1 deal

Broker
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Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $139.4K per unit across 20 units on a published $2.8M (2024).

Visit Dream Town Real Estate to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.69%

Cash-on-Cash

-1.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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