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Listed by Tal Haimovitchof Baird & Warner
$ 4,800,000
Est. payment | /mo
$ 4,800,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12588866
Year Built 1928
Annual Tax Amount $59,113
Tax Year 2024
Lot Dimensions 50x165
Property Sub-Type Multi Family 5+
Property Description
The property features a well-balanced unit mix consisting of twenty-eight (28) studio apartments and twelve (12) one-bedroom/one-bathroom units. The majority of apartments offer upgraded interiors complemented by vintage character, with finishes that include granite or quartz countertops, raised-panel cabinetry, and hardwood or vinyl flooring. Common area amenities include a secured building entrance, an on-site laundry facility, and a dedicated mail and package room. Current in-place rents are approximately 15% below market compared to nearby properties with similar finishes, presenting an opportunity for new ownership to implement a more proactive management strategy and capture meaningful rental upside.
Location
State IL
County Cook
Zoning MULTI
Interior
Fireplace N
Exterior
View Y/N true
Building
Foundation Concrete Perimeter
Water Municipal Water
Structure Type Brick
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NEARBY SCHOOLS & PROPERTIES
676 N Michigan Ave. Ste 3010, Chicago, IL, 60611, United States