Updated Sep 4, 2026
Eric Bell & Jordan Callaway Of Marcus & Millichap Complete Sale Of 120-Unit Multifamily In Skokie
8501 Lotus Avenue
Building Size
97,920 SF
Asset Type
MultiFamily
Closing
Sep 2, 2026
About this deal
AI
A 120-unit multifamily property located at 8501 Lotus Avenue in Skokie, Illinois, has been sold. The property spans 97,920 square feet on a 2.54-acre lot. The sale was facilitated by Marcus & Millichap, a firm specializing in real estate transactions.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 8501 Lotus Avenue
- Market: Skokie, IL
- Square Footage: 97,920
- Units: 120
- Acres: 2.54
- Brokers: Eric Bell & Jordan Callaway - Marcus & Millichap
Eric Bell and Jordan Callaway represented the private seller and procured a local private buyer in the transaction. The new owner intends to continue modernizing the property following the acquisition.
On the Map
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93