Updated Oct 28, 2024
FPA Multifamily Acquires 304-Unit Multifamily Asset In Chicago For $89M
77 West Huron Street, Chicago, Illinois 60654, United States
$89,000,000
Units
304
Asset Type
MultiFamily
Closing
Oct 19, 2022
About this deal
AI
The multifamily property located at 77 West Huron St in Chicago has been sold for a price of $89,000,000. The transaction took place on October 20, 2022, and the property consists of 304 units. The price per unit is calculated to be $292,763.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $89,000,000
- Address: 77 West Huron St, Chicago
- Market: Chicago
The buyer of this property is FPA Multifamily represented by Greg Fowler, while the seller is L&B Realty Advisors. Newmark served as the broker in this transaction.
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93