Updated Dec 4, 2024
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
Coal City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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