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

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SOLD
$1,550,000

Illinois

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MultiFamily8,000 SF
Sold 11/18/2024
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SOLD

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

3226 West Potomac Avenue

See Similar Deals
MultiFamily8,000 SF
Sold 11/18/2024
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$193
Total Square Footage:8,000 SF
Transaction Type:Sale

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
2 deals$3.1M volume(847) 651-5402
BROKER

Ian Feinerman
At Properties Commercial
3 deals$5.4M volume
BROKER

Michael Weber
@Properties Christie's International Real Estate
1 deal$1.6M volume(312) 953-2193
BROKER

Details

SOLD
IMAGE: Michael Weber, Erin Feinerman & Ian Feinerman DATE: 11/18/2024 ADDRESS: 3226 West Potomac Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER: Dan Holtzman SELLER: Hood Development SELLER'S REP: Erin Feinerman (@Erin_Fein_realestate), Ian Feinerman & Michael Weber - @Properties (@AtProperties) SALE PRICE: $1,550,000 UNITS: 7 ~ PPU: $221,428 SF: 8,000 ~ PPSF: $193

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
Annual Debt Service$88,173.49