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Jim Darrow And Jordan Gottlieb Of Essex Realty Group Represent Seller In $10.85M Chicago Multifamily Sale

Property Image
SOLD
$10,850,000
James (Jim) Darrow
Doug Imber
+ 1

Illinois

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MultiFamily35,900 SF
Sold
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Property Image
SOLD

Jim Darrow And Jordan Gottlieb Of Essex Realty Group Represent Seller In $10.85M Chicago Multifamily Sale

832 West Erie Street

See Similar Deals
MultiFamily35,900 SF
Sold
James (Jim) Darrow
Doug Imber
+ 1
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$302
Total Square Footage:35900 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 832 West Erie Street in the Chicago market. The sale was completed for a total price of $10,850,000, encompassing 20 units and offering a total square footage of 35,900. The price per unit was $542,500, and the price per square foot was $302.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $10,850,000
  • Units: 20
  • Square Footage: 35,900
  • Price Per Unit: $542,500
  • Price Per Square Foot: $302
  • Buyer's Representative: Kate Varde - Essex Realty Group
  • Seller's Representatives: Jim Darrow & Jordan Gottlieb - Essex Realty Group

This transaction involved key individuals from Essex Realty Group, with Kate Varde representing the buyer, while Jim Darrow and Jordan Gottlieb served as representatives for the seller. Their involvement highlights the professional brokerage services engaged in this multifamily property sale.

Players

Doug Imber
28 deals$235.8M volume
BROKER

James (Jim) Darrow
Essex Realty Group
61 deals$283.1M volume(312) 998-2112
BROKER

Jordan Gottlieb
Essex Realty Group
67 deals$364.3M volume
BROKER

Kate Varde
Essex Realty Group
36 deals$292.6M volume
BROKER

Details

SOLD
IMAGE: Jordan Gottlieb, Jim Darrow & Kate Varde DATE: 09/25/2024 ADDRESS: 832 West Erie Street MARKET: Chicago ASSET TYPE: Multifamily BUYER'S REP: Kate Varde - Essex Realty Group SELLER'S REP: Jim Darrow & Jordan Gottlieb - Essex Realty Group (@EssexRealtyGroupInc) SALE PRICE: $10,850,000 UNITS: 20 ~ PPU: $542,500 SF: 35,900 ~ PPSF: $302

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$578,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$38,547.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,434.54
Annual Debt Service$617,214.42