Updated Aug 7, 2025
Gabe Horstick And Alec Greenberg Acquire Chicago Multifamily For $4 Million From Marlene Bennett
919 West Sheridan Road & 3817 North Fremont Street
$4,000,000
$181/SF
Building Size
12,000 SF
Asset Type
MultiFamily
Closing
Jul 30, 2025
About this deal
AI
The property asset involves a multifamily building located at 919 West Sheridan Road and 3817 North Fremont Street in the Chicago market. The transaction was finalized at a sale price of $4,000,000, encompassing a total of 22,000 square feet, which results in a price per square foot of $182.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Address: 919 West Sheridan Road & 3817 North Fremont Street
- Market: Chicago
- Buyer: Gabe Horstick & Alec Greenberg - Base 3 Development
- Seller: Marlene Bennett
- Broker: Bill Cassin - Apartment Investment Advisers
This transaction was facilitated by Gabe Horstick and Alec Greenberg, who represent Base 3 Development as the buyers. The seller of the property, Marlene Bennett, engaged Bill Cassin from Apartment Investment Advisers to manage the brokerage for the deal.
On the Map
$4,000,000
$181/SF
MultiFamily
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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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93