Updated Oct 28, 2024
2200 Market Acquires West Side Portfolio Multifamily In Chicago For $7.2M
950 North Lavergne Avenue, Chicago, Illinois 60651, United States
$7,226,000
$65/SF
Building Size
110,000 SF
Asset Type
MultiFamily
Closing
Nov 1, 2021
About this deal
AI
The West Side Portfolio located in Chicago's West Side has been sold in a recent transaction. The multifamily property consists of several buildings, including the addresses 950-56 N. Lavergne Ave, 3542-48 W. Polk St, 4400-10 W. West End Ave, 5000-02 W. Quincy St, 5030-34 W. North Ave, and 5800 W. Washington Blvd. The total square footage of the portfolio is approximately 110,000 square feet, and it is comprised of 96 units. The sale price for this transaction was $7,226,000, resulting in an average price per unit of $75,271 and a price per square foot of $66.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $7,226,000
- Units: 96
- Price per Unit: $75,271
- Square Footage: 110,000
- Price per Square Foot: $66
- Market: Chicago's West Side
The buyer in this transaction is 2200 Market, while the seller is Ocean World. The brokers involved in this deal are Ted Stratman, Jeremy Morton, and Lucas Fryman, representing Interra Realty.
Players
Chicago 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
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93