Updated Oct 28, 2024
Shoreline Properties Sells Multifamily Asset In Chicago For $1.86M
8222 South King Drive, Chicago, IL, USA
$1,862,000
$0/SF
Building Size
3,849,000 SF
Asset Type
MultiFamily
Closing
Aug 4, 2020
About this deal
AI
Located in Chicago, this multifamily property at 8222 S. King & 8039 S. King was recently sold by Shoreline Properties. The sale, which took place on 08/04/2021, was an all-cash deal. The property consists of 38 units, with a sale price of $1,862,000. This translates to an average price per unit (PPU) of $49,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,862,000
- Address: 8222 S. King & 8039 S. King, Chicago
- Date: 08/04/2021
- Seller: Shoreline Properties
The brokers involved in the transaction were Aaron Sklar and Noah Birk. They represented Shoreline Properties in this deal.
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
8.52%
Cash-on-Cash
-2.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93