Nicholas Perrino Purchases Multifamily Property From Gabe Horstick In Chicago For $1.654M
2450 West Chicago Avenue
$1,654,000
$291/SF
Building Size
5,667 SF
Asset Type
MultiFamily
Closing
Jul 29, 2025
AI
This transaction involves a multifamily property located at 2450 West Chicago Avenue in the Chicago market. The sale price of the property was $1,654,000, consisting of 6 units. The property has a total square footage of 5,667, resulting in a price per unit of $275,666 and a price per square foot of $291.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,654,000
- Address: 2450 West Chicago Avenue
- Market: Chicago
- Units: 6
- Price Per Unit: $275,666
- Square Footage: 5,667
- Price Per Square Foot: $291
- Buyer: Nicholas Perrino
- Seller: Gabe Horstick
- Broker: Reed Meyer - Base 3 Properties
The key individuals in this transaction include the buyer, Nicholas Perrino, and the seller, Gabe Horstick, who was represented in this deal by broker Reed Meyer from Base 3 Properties. This collaboration facilitated the successful exchange of the property.
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
9.59%
Cash-on-Cash
-2.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93