Multifamily N Illinois

SVN Chicago negotiates $2M sale of multifamily building

A six-unit multifamily building sold at 1431 W. Cortez Street in Chicago’s Noble Square neighborhood. Paul Cawthon and Angelo Labriola of SVN | Chicago Commercial represented the seller in the off-market transaction. The property sold for $2,075,000.

“From contract execution to closing was a short 26-business-day period,” Labriola said. “The property is a great asset that was gut renovated in 2008 with high-end condo quality finishes and designs. The large floor plans and two duplex units commanded a large price-tag with low cap rate just over 6%.”