Recon Properties Acquires Multifamily Property In Chicago For $9.58M
SOLD
$9,580,000
Illinois
See Similar DealsMultiFamily650 SF
Sold 07/28/2020
SOLD
Recon Properties Acquires Multifamily Property In Chicago For $9.58M
943 N Crosby St, Chicago, IL 60610, USA
See Similar DealsMultiFamily650 SF
Sold 07/28/2020
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$14,738
Total Square Footage:650 SF
Transaction Type:Sale
Located in Chicago, the property at 943 North Crosby Street recently changed hands in a closed transaction. This multifamily asset, consisting of 27 units, was sold for a total price of $9,580,000, resulting in an average price per unit of $342,419.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,580,000
Recon Properties, represented by Michael Arrington, emerged as the buyer in this deal. The seller, Metro Park LLC, was represented by Bryan Schroeder. The transaction was facilitated by Joe Smazal of Interra Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$510,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,035.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,414.09
Annual Debt Service$544,969.05
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