Updated Oct 29, 2024
Interra Realty Brokers $17.9M Sale Of MultiFamily Asset In Chicago
811 E 46th St, Chicago, IL, 60653
$17,900,000
Units
204
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The six-building multifamily portfolio in Chicago’s Kenwood neighborhood has been sold for $17.9 million. With a total of 204 units, the properties are located at 4001 S. Ellis Ave., 4433 S. Greenwood Ave., 4737 and 4746 S. Ingleside Ave., 4500 S. Drexel Blvd., and 811 E 46th St.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $17,900,000.00
- Market: Chicago
- Seller: The Wolcott Group
- Buyer's Representatives: Lucas Fryman(Interra Realty), Ted Stratman(Interra Realty)
- Buyer: Unknown
Chicago-based Interra Realty’s David Goss, Jon Morgan, Ted Stratman, and Lucas Fryman were the key individuals representing both the seller and buyer in this transaction. The buyer plans to renovate units and bring additional units online for leasing.
On the Map
$17,900,000
MultiFamily
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Chicago 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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93