Updated Oct 28, 2024
Orion Residential Acquires Multifamily Property In Elk Grove, IL For $32.25M
951 Charlela Lane, Elk Grove Village, IL 60007
$32,250,000
Units
192
Asset Type
MultiFamily
Closing
Jan 11, 2022
About this deal
AI
Located in Elk Grove, Illinois, the multifamily property at 951 Charlela Lane has recently been sold. The transaction took place on January 11, 2022, with Orion Residential's Daniel Gumbiner as the buyer and Burton LLC as the seller. The sale price for this property was $32,250,000. The asset consists of 192 units, with a price per unit (PPU) of $167,969.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,250,000
- Units: 192
- Price Per Unit (PPU): $167,969
- Buyer: Orion Residential - Daniel Gumbiner
- Seller: Burton LLC
Daniel Gumbiner, representing Orion Residential, played a significant role as the buyer in this transaction. On the other hand, Burton LLC acted as the seller. The property at 951 Charlela Lane in Elk Grove, Illinois, attracted attention with its 192 units and a sale price of $32,250,000. This successful sale highlights the demand for multifamily assets in this market.
Players
Elk Grove Village MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $168K per unit across 192 units on a published $32.3M (2022).
Browse Illinois multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93