Waterton Acquires Multifamily Property In Chicago For $170M
SOLD
$170,000,000
Illinois
See Similar DealsMultiFamily
Sold 09/30/2022
SOLD
Waterton Acquires Multifamily Property In Chicago For $170M
801 South Financial Place, Chicago, Illinois 60605, United States
See Similar DealsMultiFamily
Sold 09/30/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
801 South Financial Place, a multifamily property located in Chicago, is currently under contract for sale. The property consists of 496 units, with a per unit price of $342,741. The transaction involves a buyer, Waterton, and a seller, Wood Partners represented by Joseph Keough & Patrick Trask.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $170,000,000
- Address: 801 South Financial Place
- Market: Chicago
- Buyer: Waterton
- Seller: Wood Partners - Joseph Keough & Patrick Trask
- Number of Units: 496
- Price Per Unit: $342,741
The deal, which is expected to close soon, showcases the collaboration between Waterton and Wood Partners represented by Joseph Keough & Patrick Trask. This transaction highlights the strong demand for multifamily properties in the Chicago market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$603,974.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$805,886.73
Annual Debt Service$9,670,640.76
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