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Michael Fleming & Ricardo Del Toro Of Marquette Properties Represents Seller In $1.4M Multifamily Sale

Property Image
SOLD
$1,400,000
Ricardo Del Toro

Illinois

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MultiFamily16,640 SF
Sold 03/26/2024
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Property Image
SOLD

Michael Fleming & Ricardo Del Toro Of Marquette Properties Represents Seller In $1.4M Multifamily Sale

811 Covey Lane & 813 Covey Lane

See Similar Deals
MultiFamily16,640 SF
Sold 03/26/2024
Ricardo Del Toro
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$84
Total Square Footage:16,640 SF
Transaction Type:Sale

A multifamily property spanning 0.74 acres located at 811/813 Covey Lane in Coal City has been sold for $1,400,000. The transaction was facilitated by Lori Mensik of Hoff & Realtors representing the buyer and Michael Fleming & Ricardo Del Toro of Marquette Properties representing the seller. The property offers 8,320 square feet of space, equating to a price per square foot of $168.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,400,000
  • Address: 811/813 Covey Lane
  • Market: Coal City
  • Buyer's Rep: Lori Mensik - Hoff & Realtors
  • Seller's Rep: Michael Fleming & Ricardo Del Toro - Marquette Properties
  • Square Footage: 8,320
  • Price Per Square Foot: $168

Lori Mensik of Hoff & Realtors represented the buyer in the acquisition of the multifamily property, showcasing their expertise in real estate transactions. On the other hand, Michael Fleming and Ricardo Del Toro of Marquette Properties led the seller side of the deal, ensuring a successful and profitable closing for the property at 811/813 Covey Lane in Coal City.

Players

4 deals$7.1M volume
BROKER

Ricardo Del Toro
1 deal$1.4M volume(815) 909-6406
BROKER

Details

SOLD
IMAGE: Michael Fleming & Ricardo Del Toro DATE: 03/26/2024 ADDRESS: 811/813 Covey Lane MARKET: Coal City ASSET TYPE: MultiFamily ~ ACRES: 0.74 BUYER'S REP: Lori Mensik - Hoff & Realtors SELLER'S REP: Michael Fleming & Ricardo Del Toro(@RicardoDelToro12) - Marquette Properties SALE PRICE: $1,400,000 SF: 8,320 ~ PPSF: $168 NOTE: Lori Mensik of Hoff & Realtors represented the buyer in the $1,400,000 purchase of a multifamily property at 811/813 Covey Lane in Coal City. Michael Fleming and Ricardo Del Toro of Marquette Properties represented the seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$74,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57