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941 N River Dr Kankakee, IL...

Horvath & Tremblay Brokers Arrange $2.6M Sale Of 37-Unit Multifamily Complex In Kankakee
SOLDMultiFamily

Horvath & Tremblay Brokers Arrange $2.6M Sale Of 37-Unit Multifamily Complex In Kankakee

941 N River Dr Kankakee, IL 60901, USA

$2,600,000

Building Size

Asset Type

MultiFamily

Closing

Aug 22, 2023

AI

A 37-unit multifamily complex in Kankakee, Illinois has recently been sold for $2.6 million. The property, located at 941 North River Drive, spans across 2.3 acres. This transaction was facilitated by Anthony Spangler and Thomas Shanley of Horvath & Tremblay, who represented both parties involved in the sale.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,600,000
  • Units: 37
  • Price per Unit: $70,270
  • Address: 941 North River Drive
  • Market: Kankakee
  • Brokers: Anthony Spangler & Thomas Shanley - Horvath & Tremblay

Anthony Spangler and Thomas Shanley of Horvath & Tremblay played a key role in the successful completion of this transaction. As representatives for both parties, they ensured a smooth and efficient process. This sale signifies their expertise and dedication to the real estate industry.

Players

Anthony Spangler

Horvath & Tremblay

Broker

$38.7M

vol

13 deals

Broker

Kankakee 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

6.10%

Cash-on-Cash

-1.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93