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Honore Properties Sells Multifamily Asset At 859 North Damen Avenue Chicago For $2.55M

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SOLD
$2,550,000

Illinois

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MultiFamily8,750 SF
Sold 09/16/2024
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Property Image
SOLD

Honore Properties Sells Multifamily Asset At 859 North Damen Avenue Chicago For $2.55M

859 North Damen Avenue

See Similar Deals
MultiFamily8,750 SF
Sold 09/16/2024
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$291
Total Square Footage:8,750 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 859 North Damen Avenue in Chicago. The sale price was $2,550,000, featuring a total of 9 units. The building covers an area of 8,750 square feet, resulting in a price per unit of $283,333 and a price per square foot of $291.

Summary of transaction details:

The deal was represented on the buyer's side by Jordan Gottlieb from Essex Realty Group. On the seller's side, the transaction was handled by Brian Karmowski alongside Jordan Gottlieb, both representing Essex Realty Group in this sale.

Players

Jordan Gottlieb
67 deals$364.3M volume
BROKER

Brian Karmowski
Essex Realty Group
42 deals$279.1M volume
BROKER

Details

SOLD
IMAGE: Jordan Gottlieb & Brian Karmowski DATE: 09/16/2024 ADDRESS: 859 North Damen Avenue MARKET: Chicago ASSET TYPE: Multifamily SELLER: Honore Properties BUYER'S REP: Jordan Gottlieb - Essex Realty Group (@EssexRealtyGroupInc) SELLER'S REP: Brian Karmowski & Jordan Gottlieb - Essex Realty Group SALE PRICE: $2,550,000 UNITS: 9 ~ PPU: $283,333 SF: 8,750 ~ PPSF: $291

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$136,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61