FPA Multifamily Acquires 304-Unit Multifamily Asset In Chicago For $89M
SOLD
$89,000,000
Illinois
See Similar DealsMultiFamily
Sold 10/20/2022
SOLD
FPA Multifamily Acquires 304-Unit Multifamily Asset In Chicago For $89M
77 West Huron Street, Chicago, Illinois 60654, United States
See Similar DealsMultiFamily
Sold 10/20/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,746,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$316,198.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$421,905.41
Annual Debt Service$5,062,864.87
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