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Fulton Street Cos Acquires Multifamily Property In Chicago For $49M

Property Image
SOLD
$49,000,000

Illinois

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MultiFamily530 SF
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Property Image
SOLD

Fulton Street Cos Acquires Multifamily Property In Chicago For $49M

910 West Lake Street

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MultiFamily530 SF
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$92,452
Total Square Footage:530 SF
Transaction Type:Sale

The multifamily property located at 910 West Lake Street in Chicago has been sold at a price of $49,000,000. The property spans approximately 530,000 square feet, resulting in a price per square foot of $92.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $49,000,000
  • Address: 910 West Lake Street
  • Market: Chicago
  • Buyer: Fulton Street Cos - Alex Najem; Shanna Khan
  • Seller: Pat Fitzgerald

The buyers involved in this transaction are Fulton Street Cos represented by Alex Najem and Shanna Khan. The seller is Pat Fitzgerald.

Players

2 deals$49M volume
BUYER

BUYER

2 deals$102.5M volume
SELLER

Details

SOLD
IMAGE: Alex Najem DATE: 12/30/2023 ADDRESS: 910 West Lake Street MARKET: Chicago ASSET TYPE: Multifamily BUYER: Fulton Street Cos - Alex Najem; Shanna Khan SELLER: Pat Fitzgerald SALE PRICE: $49,000,000 SF: 530,000 ~ PPSF: $92

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

$2,613,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$174,086.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$232,285.00
Annual Debt Service$2,787,419.98