Apartment Investment Advisers Acquires Multifamily Property On Chicago's N. Sheridan Road For $4.35M
SOLD
$4,350,000
Illinois
See Similar DealsMultiFamily34,158 SF
Sold 01/12/2021
SOLD
Apartment Investment Advisers Acquires Multifamily Property On Chicago's N. Sheridan Road For $4.35M
7621 North Sheridan Road, Chicago, IL, USA
See Similar DealsMultiFamily34,158 SF
Sold 01/12/2021
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$127
Total Square Footage:34,158 SF
Transaction Type:Sale
A multifamily property located at 7621 N. Sheridan Road in Chicago has been sold for a total price of $4,350,000. The transaction took place on 01/12/2021 and was facilitated by Bill Cassin from Apartment Investment Advisers (AIA). This property consists of 30 units, with a price per unit (PPU) of $145,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,350,000
- Address: 7621 N. Sheridan Road
- Market: Chicago
- Broker: Bill Cassin - Apartment Investment Advisers (AIA)
- Units: 30
- PPU: $145,000
Bill Cassin from Apartment Investment Advisers (AIA) represented the parties involved in this transaction. This sale presents a significant investment opportunity in the Chicago market, providing a sizable multifamily property with a total of 30 units.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$232,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,454.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,621.22
Annual Debt Service$247,454.63
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