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Essex Realty Group Sells Rogers Park Multifamily Building At 1645 West Chase Ave. For $4.05M

Property Image
SOLD
$4,050,000
Rick Ofman
Matt Feo
Doug Imber
+ 1

Maryland

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Property Image
SOLD

Essex Realty Group Sells Rogers Park Multifamily Building At 1645 West Chase Ave. For $4.05M

1645 W Chase Ave Chicago, IL 60626, USA

See Similar Deals
MultiFamily
Sold
Rick Ofman
Matt Feo
Doug Imber
+ 1
the dealplayerscompscontact
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Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale

A vintage courtyard building located at 1645 West Chase Avenue in Rogers Park, Chicago, has been sold by Essex Realty Group for approximately $4.05 million. The 31-unit multifamily property is set to undergo conversion by the new owner, with support from Essex's Principals and Directors.

Summary of transation details

Essex Realty Group, represented by Doug Imber, Kate Varde, Rick Ofman, and Matt Feo, facilitated the sale of the vintage courtyard building in Rogers Park. This transaction showcases the expertise and reputation of the Essex Realty Group's team in the Chicago market. The involvement of the Principals and Directors in supporting the new owner's conversion plans demonstrates the commitment of Essex Realty Group to ensuring a successful outcome for all parties involved.

Players

Doug Imber
Essex Realty Group
Doug Imber
28 deals$235.8M volume
BROKER
Kate Varde
Essex Realty Group
Kate Varde
36 deals$292.6M volume
BROKER
Matt Feo
Essex Realty Group
Matt Feo
49 deals$245.4M volume
BROKER
Rick Ofman
Essex Realty Group
Rick Ofman
27 deals$243.8M volume
BROKER

Details

SOLD
IMAGE: Matt Feo, Rick Ofman, Doug Imber & Kate Varde DATE: 08/24/2023 ADDRESS: 1645 West Chase Avenue MARKET: Chicago ASSET TYPE: Multifamily BROKERS: Doug Imber, Kate Varde, Rick Ofman & Matt Feo - Essex Realty Group (@EssexRealtyGroupInc) (@ChicagoMultifamily_EssexRealty) SALE PRICE: $4,050,000 UNITS: 31 ~ PPU: $130,645 NOTE: Essex Realty Group has wrapped up the sale of a 31-unit vintage courtyard building at 1645 West Chase Avenue in Rogers Park. The property, sold for around $4.05 million, will undergo conversion by the new owner, supported by Essex's Principals and Directors.

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

$216,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,388.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,199.07
Annual Debt Service$230,388.79