Christian Mewes Purchases Multifamily Property At 1470 West Huron Street For $1.355M
1470 West Huron Street
$1,355,000
$401/SF
Building Size
3,375 SF
Asset Type
MultiFamily
Closing
Jan 15, 2025
AI
The property asset involved in this transaction is a multifamily building located at 1470 West Huron Street in Chicago. The sale was finalized for a price of $1,355,000, encompassing a total of six units. The property spans 3,375 square feet, resulting in a price per unit of $225,833 and a price per square foot of $401.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,355,000
- Units: 6
- Square Footage: 3,375
- Price Per Unit: $225,833
- Price Per Square Foot: $401
- Buyer: Christian Mewes
- Buyer's Representative: Andrew Dorazio - Fitzgerald Real Estate
- Seller's Representative: Brian Keegan - Essex Realty Group
The transaction was facilitated by Andrew Dorazio, representing the buyer, while Brian Keegan represented the seller in this deal. The successful closure of the transaction highlights the roles these representatives played in bringing together both parties to complete the multifamily property sale.
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
11.71%
Cash-on-Cash
-3.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93