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Harry Perl Of Goldberg & Perl, Inc Represents Buyer In $1.5M Sale Of Multifamily In Chicago

Property Image
SOLD
$1,500,000

Illinois

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MultiFamily
Sold 07/22/2024
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Property Image
SOLD

Harry Perl Of Goldberg & Perl, Inc Represents Buyer In $1.5M Sale Of Multifamily In Chicago

750 West Bittersweet Place

See Similar Deals
MultiFamily
Sold 07/22/2024
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

750 West Bittersweet Place is a three-unit multifamily building located in the Chicago market. The property was acquired for $1,500,000, equating to a price per unit of $500,000. It features spacious units and includes modern upgrades such as new baths and kitchens, hardwood floors, fireplaces, and outdoor spaces. The asset also offers attached parking for up to five cars and is situated near Lake Michigan and a golf course.

Summary of transaction details:

Harry Perl represented the buyer in this transaction, while Elizabeth Amidon acted as the seller's representative. The transaction highlights the involvement of key agencies within the Chicago real estate market, emphasizing the collaboration between Goldberg & Perl, Inc. and Jameson Sotheby's International Realty.

Players

3 deals$4.7M volume
BROKER

Details

SOLD
IMAGE: Elizabeth Amidon & Harry Perl DATE: 07/22/2024 ADDRESS: 750 West Bittersweet Place MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Harry Perl - Goldberg & Perl, Inc SELLER'S REP: Elizabeth Amidon - Jameson Sotheby's International Realty (@JamesOnSIR) SALE PRICE: $1,500,000 UNITS: 3 ~ PPU: $500,000 NOTE: Harry Perl of Goldberg & Perl, Inc. represented the buyer in the acquisition of 750 West Bittersweet Place, a charming three-unit multifamily building in Chicago, purchased for $1,500,000. Featuring spacious units with vintage Chicago charm and modern upgrades including new baths and kitchens, hardwood floors, fireplaces, and outdoor spaces, this property offers a desirable location near Lake Michigan and a golf course, along with attached parking for up to five cars.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$79,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18