Updated Oct 28, 2024
Novo Realty Group Sells Multifamily Property In Chatham, Chicago For $2.5M
8201 S Michigan Ave, South Side, Chicago, IL, USA
$2,500,000
$104/SF
Building Size
23,958 SF
Asset Type
MultiFamily
Closing
Jul 1, 2020
About this deal
AI
An multifamily property located at 8201 S. Michigan in Chatham, Chicago has been sold in a closed transaction. The property consists of 43 units, with an average price per unit of $58,140. The sale was handled by Novo Realty Group, with Aaron Sklar & Noah Birk serving as the brokers.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Address: 8201 S. Michigan, Chatham, Chicago
- Market: Chatham, Chicago
The sale price for the property was $2,500,000. Aaron Sklar & Noah Birk, representing Novo Realty Group, assisted with the transaction. The property offers a strong investment opportunity in the Chatham market.
Players
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93