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
Kankakee MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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