4.43% Loan - 80% LTV - The 45 Portfolio
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4.43% Loan - 80% LTV - The 45 Portfolio
2 Multifamily Properties Offered at $14,572,812 CAD in Chicago, IL
Investment Highlights
- 4201: Interest Rate: 4.95% Maturity Date: 04/01/2029, Cash on Cash: (COC) 7.8%.
- 4201: Loan To Value (LTV) 77%.
- 4750: Debt Service Coverage Ratio (DSCR) 1.45.
- 4201: Debt Service Coverage Ratio (DSCR) 1.4.
- 4750: Assumable Fannie Mae Loan - Servicer Greystone, Interest Rate: 4.43% Maturity Date: 04/01/2030.
- 4750: Loan To Value (LTV) 80%.
Executive Summary
Sale is subject to offer. Two-building multifamily portfolio totaling 45 units in Chicago's Bronzeville neighborhood. Buildings may be purchased together or separately.
4201 S Michigan Ave is a 21-unit renovated Multifamily building located in Bronzeville. The unit mix consists of (15) 2 Bed 2 Bath units and (6) 3 Bed 2 Bath Duplex units. All units have been updated with newer kitchen and baths. The apartments are very spacious and equipped with hardwood flooring, high-end appliances and in-unit laundry. Capital improvements consist of newer electrical service, newer in-unit furnaces and water tanks, newer roof and newer windows.
4750 S Michigan Ave is a 24-unit, recently gut-rehabbed multifamily property (2019) located in Bronzeville. The desirable unit mix consists of (2) 1 Bed 1 Bath, (11) 2 Bed 2 Bath units and (11) 3 Bed 3 Bath units. The apartments are very spacious and equipped with hardwood flooring, high-end appliances and in-unit laundry. Capital improvements consist of new in-unit furnaces and water tanks, new electrical services totaling 3200AMPs, new roof and new windows.
4201 S Michigan Ave is a 21-unit renovated Multifamily building located in Bronzeville. The unit mix consists of (15) 2 Bed 2 Bath units and (6) 3 Bed 2 Bath Duplex units. All units have been updated with newer kitchen and baths. The apartments are very spacious and equipped with hardwood flooring, high-end appliances and in-unit laundry. Capital improvements consist of newer electrical service, newer in-unit furnaces and water tanks, newer roof and newer windows.
4750 S Michigan Ave is a 24-unit, recently gut-rehabbed multifamily property (2019) located in Bronzeville. The desirable unit mix consists of (2) 1 Bed 1 Bath, (11) 2 Bed 2 Bath units and (11) 3 Bed 3 Bath units. The apartments are very spacious and equipped with hardwood flooring, high-end appliances and in-unit laundry. Capital improvements consist of new in-unit furnaces and water tanks, new electrical services totaling 3200AMPs, new roof and new windows.
Property Facts
| Price | $14,572,812 CAD | Number of Properties | 2 |
| Price / SF | $255.13 CAD / SF | Individually For Sale | 2 |
| Cap Rate | 7.04% | Total Building Size | 57,120 SF |
| Sale Type | Investment | Total Land Area | 0.78 AC |
| Status | Active |
| Price | $14,572,812 CAD |
| Price / SF | $255.13 CAD / SF |
| Cap Rate | 7.04% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 57,120 SF |
| Total Land Area | 0.78 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 4201-4209 S Michigan Ave, Chicago, IL 60653 | Multifamily | 23,460 SF | 1894 | $6,440,823 CAD |
| 4750 S Michigan Ave, Chicago, IL 60615 | Multifamily | 33,660 SF | 1908 | $8,131,989 CAD |
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4.43% Loan - 80% LTV - The 45 Portfolio
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