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3226 West Potomac Avenue

Dan Holtzman Acquires Multifamily Asset From Hood Development For $1.55M In Chicago
SOLDMultiFamily

Dan Holtzman Acquires Multifamily Asset From Hood Development For $1.55M In Chicago

3226 West Potomac Avenue

$1,550,000

$193/SF

Building Size

8,000 SF

Asset Type

MultiFamily

Closing

Nov 18, 2024

AI

The property involved in the transaction is located at 3226 West Potomac Avenue in Chicago. The asset type is multifamily with a total sale price of $1,550,000. There are 7 units within the property, encompassing a square footage of 8,000, resulting in a price per unit of $221,428 and a price per square foot of $193.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,550,000
  • Units: 7
  • Square Footage: 8,000
  • Price Per Unit: $221,428
  • Price Per Square Foot: $193
  • Buyer: Dan Holtzman
  • Seller: Hood Development
  • Seller's Representative: Erin Feinerman, Ian Feinerman & Michael Weber Properties

The key individuals involved in the deal include the buyer, Dan Holtzman, and the seller, Hood Development. The seller's representation during the transaction was handled by Erin Feinerman, Ian Feinerman, and Michael Weber from the brokerage firm Michael Weber Properties.

Players

Erin Feinerman

@Properties Christie's International Real Estate

Broker

$3.1M

vol

2 deals

Broker

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

10.23%

Cash-on-Cash

-2.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93