Lincoln Property Company Acquires Multifamily Property In Chicago For $94.2M
SOLD
$94,200,000
Illinois
See Similar DealsMultiFamily
Sold 10/25/2021
SOLD
Lincoln Property Company Acquires Multifamily Property In Chicago For $94.2M
727 North Wabash Avenue, Chicago, IL 60611, USA
See Similar DealsMultiFamily
Sold 10/25/2021
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
Located at 727 North Wabash Avenue in Chicago, this multifamily property was recently sold in a closed transaction. The sale took place on 10/25/2021 and was facilitated by the real estate brokerage firm CBRE.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $94,200,000
- Market: Chicago
- Units: 171
- Price per Unit: $550,877
The buyer, Lincoln Property Company represented by Tim Byrne, successfully acquired the property. The seller in this transaction was UBS Realty Investors. The sale price of the property was $94,200,000, resulting in a per-unit price of $550,877.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,023,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$334,672.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$446,556.06
Annual Debt Service$5,358,672.70
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