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UPDATED:
02/27/2025 03:43 PM
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12299364
Year Built 1997
Annual Tax Amount $23,383
Tax Year 2023
Lot Dimensions .07
Property Sub-Type Multi Family 5+
Property Description
Located in a prime east Lakeview location, the property is almost equidistant between the Belmont and Addison stops on the "L". The building contains five legally conforming apartments configured as four 3 bedroom, 2 bathroom units and one 2 bedroom, 1 bathroom apartment. Built from the ground up in 1999, the building has benefitted from numerous capital improvement since its construction. In the past 5-10 years, all the windows have been replaced, the roof was replaced and the rear porch structure is also new. 4 of the 5 tenants or M-T-M with all rents being well below market, allowing a new investor to come in and move rents to market within 90 days. The "L" improvement project is nearly complete as well. The last step is to repave and widen the alley, This work is scheduled to be finished prior to opening day (April 4th).
Location
State IL
County Cook
Interior
Fireplace N
Exterior
View Y/N true
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Listed by Stephen Rachman • Marcus & Millichap Chicago Apartment Brokers