Updated Dec 21, 2023
Finley Askin Acquires Multifamily Property In Chicago For $1.14M
7601-11 South Drexel Avenue, Chicago, IL 60619, USA
$1,140,000
$45/SF
Building Size
25,000 SF
Asset Type
MultiFamily
Closing
Jul 23, 2020
About this deal
AI
The multifamily property located at 7601-11 S Drexel Ave in Chicago was recently sold for a total price of $1,140,000. The transaction took place on July 23, 2021, and was facilitated by broker Finley Askin. The property consists of 21 units, with an average price per unit of $54,286.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,140,000
- Address: 7601-11 S Drexel Ave, Chicago
- Market: Chicago
- Broker: Finley Askin
- Units: 21
- Price Per Unit: $54,286
Finley Askin, representing the buyer or seller, played a crucial role in ensuring the successful completion of the deal. The sale of this multifamily property represents a significant transaction in the Chicago market.
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
13.91%
Cash-on-Cash
-3.98%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93