Updated Oct 28, 2024
IBF Group Sells 6-Unit Multifamily In Chicago For $1.2M With Brokers Aaron Sklar & Noah Birk
724 E 50th Pl, Chicago, IL, USA
$1,225,000
$112/SF
Building Size
10,892 SF
Asset Type
MultiFamily
Closing
Jul 29, 2021
About this deal
AI
The multifamily property located at 724 E. 50th Pl in Chicago was recently sold for a total price of $1,225,000. This sale sets a record for the highest price per unit in the neighborhood in over 15 years. The property consists of 6 units, resulting in a per unit price of $204,167. The seller of the property was IBF Group, and the transaction was facilitated by brokers Aaron Sklar and Noah Birk.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,225,000
- Address: 724 E. 50th Pl, Chicago
- Market: Chicago
- Units: 6
- Price Per Unit: $204,167
This sale not only represents a significant transaction in terms of price but also highlights the expertise and negotiation skills of Aaron Sklar and Noah Birk, who served as the brokers in the deal. Their involvement contributed to achieving the highest price per unit in the neighborhood in over 15 years.
On the Map
$1,225,000
$112/SF
MultiFamily
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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
12.95%
Cash-on-Cash
-3.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93