Cook, US
HUGE VALUE-ADD OPPORTUNITY - 6 unit, 2 building complex on a sought-after Halsted Street double lot. Located in the heart of Chicago's affluent Lincoln Park neighborhood, this property is offered at an exceptionally high 5.74% cap rate. Currently 100% leased at below market rents and also contains 9 exterior parking spaces which can be leased month-to-month or rented out to Spot Hero/ParqEx (not included in income assertions). The 1938 side features THREE 2-bed/1-bath units. The 1942 side features TWO 2-bed/1-bath units as well as a 3-bed/2-bath duplex-up apartment. Opportunity to either renovate unit interiors and increase rental rates OR teardown and build new apartments or condominiums across the double lot using the existing RT-4 zoning. 90-day kick-out clause on all existing leases. Showings by appointment only and requires a minimum of 72 hours' notice. Register your interest today, this opportunity will not last long!
Courtesy Of: Chase Real Estate LLC
Feature Highlights
- Built Before 1978
General Features
- List Date:
- 02/04/2020
- Foundation Type:
- Concrete
Interior Features
- Agent Owned/Interest:
- No
- # Of Rooms - Unit 1:
- 5
- # Of Rooms - Unit 2:
- 5
- # Of Rooms - Unit 3:
- 5
- # Of Rooms - Unit 4:
- 5
- # Of Bdrms - Unit 4:
- 2
- # Of Bdrms - Unit 3:
- 2
- # Of Bdrms - Unit 2:
- 2
- # Of Bdrms - Unit 1:
- 2
Exterior Features and Amenities
- Area:
- CHI - Lincoln Park
- Lot Dimensions:
- 50X125
- Exterior Building Type:
- Brick
- Acreage:
- .07
Financial
- Status Date:
- 2020-09-28T21:14:35
- Taxes:
- 33751
- Sale Terms:
- Conventional
- Update Date:
- 2020-09-28T21:14:35
- List Date Received:
- 2020-02-04T18:55:21
- Possession:
- Closing
- Net Oper Income:
- $140,150.00
- Market Time:
- 240
- Assessment Includes:
- Water,Parking
- Listing Market Time:
- 240
- Last List Price:
- 2395000
- Listing Type:
- Exclusive Right To Sell
- Gross Rental Income:
- $183,300.00
- Contingency Flag:
- Financing
- Contract Date:
- 2020-07-16T05:00:00
- Cooperative Compensation:
- 2.5%-$495
Other Features
- Back on Market Date:
- 2020-09-28T05:00:00
- Approx Year Built:
- 1886
- Township:
- North Chicago
- Zoning Type:
- MULTI
- Are any property photos virtually staged?:
- No
The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of MRED LLC. Real Estate listings held by brokerage firms other than Hometown Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data last updated: 2024-05-05.
Copyright 2024 MRED LLC
All rights reserved.