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Essex Realty Facilitates $900K Sale Of Multifamily Property In Smith Park Chicago

Property Image
SOLD
$900,000

Illinois

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MultiFamily5,793 SF
Sold 08/16/2022
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Property Image
SOLD

Essex Realty Facilitates $900K Sale Of Multifamily Property In Smith Park Chicago

908 North California Avenue

See Similar Deals
MultiFamily5,793 SF
Sold 08/16/2022
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$155
Total Square Footage:5,793 SF
Transaction Type:Sale

Located in the beautiful Smith Park neighborhood of Chicago, this multifamily property at 908 N California Ave has recently changed hands in a successful transaction. The property offers 6 units, providing ample space for residents. With a sale price of $900,000, the per unit price comes out to $150,000. The total square footage of the property is 5,793, resulting in a price per square foot of $155.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $900,000
  • Number of Units: 6
  • Price Per Unit: $150,000
  • Square Footage: 5,793
  • Price Per Square Foot: $155

Assisting both the buyer and seller in this successful transaction was Essex Realty, represented by brokers Jordan Gottlieb, Sarah Rider, and Jaimie Steinher. Essex Realty Group, Inc. led an extensive marketing campaign for the property, resulting in over a dozen scheduled showings. Within just two weeks, the property went under contract, showcasing the efficiency and effectiveness of the brokerage team. For any further inquiries regarding this sale, feel free to reach out to Jordan Gottlieb.

Players

Jordan Gottlieb
67 deals$364.3M volume
BROKER

Jaimie Steinher
Essex Realty Group
26 deals$126.6M volume
BROKER

Sarah Rider
Essex Realty Group
9 deals$20.9M volume
BROKER

Details

SOLD
IMAGE: Jaimie Steinher, Jordan Gottlieb & Sarah Rider DATE: 08/16/2022 ADDRESS: 908 N California Ave MARKET: Smith Park, Chicago ASSET TYPE: Multifamily BROKERS: Jordan Gottlieb, Sarah Rider & Jaimie Steinher - Essex Realty SALE PRICE: $900,000 UNITS: 6 ~ PPU: $150,000 SF: 5,793 ~ PPSF: $155 NOTE FROM BROKERS: Congratulations to both buyer & seller on this fantastic Smith Park transaction! Essex Realty Group, Inc. (@essexrealtygroupinc) facilitated both buyer and seller and led an extensive marketing campaign - the property had over a dozen scheduled showings and went under contract in two weeks. Contact Jordan Gottlieb with any questions about this sale.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,197.51
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