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811 Covey Lane

Updated Dec 4, 2024

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

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

811 Covey Lane & 813 Covey Lane

$1,400,000

$84/SF

Building Size

8,320 SF

Asset Type

MultiFamily

Closing

Mar 26, 2024

About this deal

AI

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

Michael Fleming

Broker

$7.1M

vol

4 deals

Broker

Coal City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $84 per square foot on a published $1.4M for 16,640 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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