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
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.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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