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Lincoln Park Property Sold In Chicago For $2.15M With Buyer's Rep Owen Duffy & Seller's Rep Sophia Klopas

Property Image
SOLD
$2,150,000
Owen Duffy
Sophia Klopas
Christopher Johnson

Illinois

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MultiFamily
Sold 08/18/2023
the dealplayerscompscontact
Property Image
SOLD

Lincoln Park Property Sold In Chicago For $2.15M With Buyer's Rep Owen Duffy & Seller's Rep Sophia Klopas

862 W Lill Ave Chicago, IL 60614, USA

See Similar Deals
MultiFamily
Sold 08/18/2023
Owen Duffy
Sophia Klopas
Christopher Johnson
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A Lincoln Park property located at 862 West Lill Avenue in Chicago has recently been sold for $2,150,000. The property offers the potential for an 8-unit condo deconversion or new construction on a double lot with RT-4 zoning. The lot is 50x125 in size, providing ample space for development. Currently, the property generates $141,600 in annual rent.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $2,150,000
  • Address: 862 West Lill Avenue, Chicago
  • Market: Chicago

Owen Duffy from Fulton Grace Realty represented the buyer in this transaction. On the seller's side, Sophia Klopas and Christopher Johnson, both from Berkshire Hathaway HomeServices Chicago, served as the representatives. With their expertise and negotiation skills, the deal was successfully finalized.

Players

Sophia Klopas
Berkshire Hathaway HomeServices
Sophia Klopas
5 deals$9.8M volume
BROKER
Owen Duffy
Fulton Grace Realty
Owen Duffy
3 deals$4.5M volume
BROKER
Christopher Johnson
Berkshire Hathaway HomeServices
Christopher Johnson
2 deals$3.2M volume(847) 650-9507
BROKER

Details

SOLD
IMAGE: Christopher Johnson, Owen Duffy & Sophia Klopas DATE: 08/18/2023 ADDRESS: 862 West Lill Avenue MARKET: Chicago ASSET TYPE: MultiFamily BUYER'S REP: Owen Duffy - Fulton Grace Realty SELLER'S REP: Sophia Klopas (@Sophialeek) & Christopher Johnson - Berkshire Hathaway HomeServices Chicago SALE PRICE: $2,150,000 UNITS: 8 ~ PPU: $268,750 NOTE: A Lincoln Park property at 862 West Lill Avenue in Chicago has been sold for $2,150,000. The sale presents an opportunity for an 8-unit condo deconversion or new construction on a double lot (50x125) with RT-4 zoning, currently generating $141,600 in annual rent.

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

$114,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,638.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,192.10
Annual Debt Service$122,305.16