Updated Dec 20, 2023
Finley Askin Acquires Multifamily Property At 8242-58 S Drexel Ave In Chatham For $2.75M
8242-58 South Drexel Avenue, Chatham, Chicago, IL 60619, USA
$2,750,000
$85/SF
Building Size
32,200 SF
Asset Type
MultiFamily
Closing
Oct 28, 2021
About this deal
AI
A multifamily property located at 8242-58 S Drexel Ave in Chatham has been sold for a total price of $2,750,000. The property consists of 46 units, resulting in a per unit price of $59,783. The sale took place on October 28, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,750,000
- Address: 8242-58 S Drexel Ave
- Market: Chatham
Finley Askin, a representative from Chicago Real Estate Resources (CRER), served as the broker for this transaction.
The multifamily sale at 8242-58 South Drexel Avenue, Chatham, Chicago, IL 60619, USA in Chicago, Illinois sold for $2.8M in 2021. Reported inventory is 32,200 square feet across 46 units, or about 85 per square foot. Finley Askin, Matthews appear on the sale alongside Matthews. This page is the Chicago, Illinois file for the 8242-58 South Drexel Avenue, Chatham, Chicago, IL 60619, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Chicago sit in the Market section below. Filter that Chicago multifamily set by closing date to see what else sold near 8242-58 South Drexel Avenue, Chatham, Chicago, IL 60619, USA around 2021. Published consideration for 8242-58 South Drexel Avenue, Chatham, Chicago, IL 60619, USA is $2.8M, dated 2021. Cite this Finley Askin Acquires Multifamily Property At 8242-58 S Drexel Ave In Chatham For $2.75M sale when underwriting similar multifamily product around Chicago, Illinois.
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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93