Robert Jacobson Acquires Multifamily Property In Chicago For $2M
SOLD
$2,000,000
Illinois
See Similar DealsMultiFamily27,000 SF
Sold 05/24/2024
SOLD
Robert Jacobson Acquires Multifamily Property In Chicago For $2M
8049 South Maryland Avenue
See Similar DealsMultiFamily27,000 SF
Sold 05/24/2024
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$74
Total Square Footage:27,000 SF
Transaction Type:Sale
The multifamily property located at 8049 South Maryland Avenue in Chicago was sold for $2,000,000. It consists of 29 units with a price per unit of $68,966 and spans across 27,000 square feet, resulting in a price per square foot of $74.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Units: 29
- Price Per Unit: $68,966
- Square Footage: 27,000
- Price Per Square Foot: $74
- Address: 8049 South Maryland Avenue, Chicago
- Market: Chicago
The buyer of the property was Robert Jacobson from Lakeshore Property Investments, while the seller was Alex Drosos. The broker representing the transaction was Aaron Sklar from Kiser Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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