Chicago Multifamily Sale
33 was ultimately selected for the listing as we were able to provide and justify aggressive pro forma rents that enhanced the projected value of the property. In order to do so, the seller agreed to engage Cubed Construction and 33 Realty to rehab one of each unit type and lease the units post-renovation. The results confirmed our projections and made our listing price easily defendable.
Seven tours were conducted on the first day of showings, prior to any marketing broadcast, and four qualified offers were received the following day. We went under contract by the end of the first week and demanded a 5-day due diligence with no financing contingency. The property ultimately sold at a 5.5 CAP and achieved one of the highest price-per-unit values in the area at that time.