facebook

traded

+ Submit
Home

/

Deals

/

Illinois

/

Multifamily

/

Sale

/

901 South Laflin Street

Rinkesh Patel Of Keller Williams Infinity Represents Buyer In $1.625M Sale Of Chicago Multifamily Property
SOLDMultiFamily

Rinkesh Patel Of Keller Williams Infinity Represents Buyer In $1.625M Sale Of Chicago Multifamily Property

901 South Laflin Street

$1,625,000

$372/SF

Building Size

4,362 SF

Asset Type

MultiFamily

Closing

Aug 31, 2024

AI

A 6-unit multifamily property located at 901 South Laflin Street, Chicago was sold for $1,625,000. The property encompasses 4,362 square feet, resulting in a price per unit of $270,833 and a price per square foot of $373. The buildings have been recently renovated and feature modern amenities, including a 6-car parking pad, and are situated near UIC East Campus and the Illinois Medical Center.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,625,000
  • Units: 6
  • Square Footage: 4,362
  • Price Per Unit: $270,833
  • Price Per Square Foot: $373
  • Buyer's Representative: Rinkesh Patel - Keller WilliamsInfinity
  • Seller's Representative: Reed Meyer - Base 3 Properties

Rinkesh Patel of Keller Williams Infinity represented the buyer, while Reed Meyer of Base 3 Properties represented the seller in this transaction. The property has been highlighted for its appealing location in Little Italy.

Players

Reed Meyer

Lease 312

Broker

$13.4M

vol

7 deals

Broker

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.76%

Cash-on-Cash

-2.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93