Chicago Real Estate Resources (CRER) Sells South Side Multifamily Portfolio For $5.9M
SOLD
$5,915,000
Illinois
See Similar DealsMultiFamily
Sold 02/24/2022
SOLD
Chicago Real Estate Resources (CRER) Sells South Side Multifamily Portfolio For $5.9M
7601 South Kingston Avenue, Chicago, Illinois 60649, United States
See Similar DealsMultiFamily
Sold 02/24/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located in the South Side of Chicago was recently sold for a total of $5,915,000. The sale included six buildings with the following addresses: 7601 S Kingston, 7001 S Aberdeen, 1614 W 66th, 8956 S Escanaba, 7002 S Stewart, and 5607 S Green. The property consists of 105 units, making the price per unit $56,333.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $5,915,000
- Address: 7601 S Kingston, 7001 S Aberdeen, 1614 W 66th, 8956 S Escanaba, 7002 S Stewart, 5607 S Green
- Market: South Side
- Units: 105
- Price per Unit: $56,333
The sale was facilitated by Finley Askin from Chicago Real Estate Resources (CRER). As the broker representative, Finley played a crucial role in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$315,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,014.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,040.12
Annual Debt Service$336,481.41
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