Updated Oct 28, 2024
Michael Dobrov's United Group Development Acquires Multifamily Property In Elk Grove Village For $56.75M
912 Ridge Square, Elk Grove Village, Illinois 60007, United States
$56,750,000
$118/SF
Building Size
480,000 SF
Asset Type
MultiFamily
Closing
Jan 31, 2022
About this deal
AI
The multifamily property located at 912 Ridge Square in Elk Grove Village has been sold. The transaction took place on February 1, 2022, and was facilitated by Michael Dobrov from United Group Development and Sean and Matt Conley from 33 Real Estate.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $56,750,000
- Address: 912 Ridge Square
- Market: Elk Grove Village
The property consists of 427 units with an average price per unit of $132,904. It spans across 480,000 square feet, resulting in a price per square foot of $118. The seller of the property was The Terrace.
Michael Dobrov, representing United Group Development, expressed interest in continually expanding their multifamily portfolio, indicating a strong appetite for further opportunities.
Players
Elk Grove Village 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93