Highland Real Estate Partners Acquires Lakeview Multifamily For $6.25M
SOLD
$6,250,000
Illinois
See Similar DealsMultiFamily20 SF
Sold 12/07/2022
SOLD
Highland Real Estate Partners Acquires Lakeview Multifamily For $6.25M
855 West Grace Street
See Similar DealsMultiFamily20 SF
Sold 12/07/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$312,500
Total Square Footage:20 SF
Transaction Type:Sale
The multifamily property located at 855 West Grace Street & 922 West George Street in Lakeview has been sold. The property consists of 24 units with a total square footage of 20,150. The sale price for the property was $6,250,000, resulting in a price per unit of $260,417 and a price per square foot of $310.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,250,000
- Units: 24
- Price per Unit: $260,417
- Square Footage: 20,150
- Price per Square Foot: $310
- Market: Lakeview
The buyer for this transaction was Highland Real Estate Partners, while the seller was Golub & Company. The buyer was represented by Ben Conte and Stephen "Steve" Rachman from Marcus & Millichap, while the seller was represented by Kyle Stengle, also from Marcus & Millichap.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,204.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,628.19
Annual Debt Service$355,538.26
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