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Listed by Adam Maxof Compass
$ 1,125,000
Est. payment | /mo
5,387 SqFt
$ 1,125,000
Est. payment | /mo
5,387 SqFt
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,387 sqft
Price per Sqft $208
MLS Listing ID 12477775
Year Built 1969
Annual Tax Amount $13,781
Tax Year 2023
Lot Dimensions 5053
Property Sub-Type Multi Family 5+
Property Description
Prime West Ridge 6-unit apartment building held under the same ownership for 27+ years. Unit mix includes two (2) 1BD/1BA and four (4) 2BD/1BA apartments, all with hardwood flooring and standard finishes. Property improvements include separately metered electric with 200-AMP service, tenant-paid heat via individual boilers and furnaces, Bock hot water heater (2019), vinyl windows, new coin laundry machines (washer 2022, dryer 2021), tuckpointing (2024), new gutters (2022, under warranty), chimney (2022), and front door awning (2021). Additional features include five (5) tandem parking spaces and private storage lockers for each unit. Rents are severely below market, presenting a clear value-add opportunity through unit renovations, parking income, and rental increases. Excellent opportunity for investors seeking long-term upside in a strong, growing neighborhood.
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
View Y/N true
Roof Type Composition
Building
Structure Type Brick
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2600 S. Michigan Avenue, Suite 102, Chicago, IL, 60616, United States