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
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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