Bought with Joseph Batliner of Listing Leaders Northwest, Inc
$345,000
$339,900
1.5%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 09/19/2025
Key Details
Sold Price $345,000
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12443193
Sold Date 09/19/25
Year Built 1961
Annual Tax Amount $12,458
Tax Year 2023
Lot Dimensions 51 X 150
Property Sub-Type Multi Family 5+
Property Description
SOLID ALL-BRICK 6 UNIT BUILDING OFFERING A PRIME VALUE-ADD OPPORTUNITY WITH STRONG POTENTIAL FOR HIGHER MARKET RENTS, MAKING THIS A PROFITABLE INVESTMENT. ONLY ONE UNIT VACANT. PROPERTY FEATURES ONE 2-BEDROOM, 1-BATH UNIT AND FIVE 1-BEDROOM, 1 BATH UNITS. EACH UNIT INCLUDES A RANGE & REFRIGERATOR. RECENT IMPROVEMENTS INCLUDE NEW ROOF (2014), EXTERIOR TUCKPOINTING (2023), NEW EAVES AND GUTTER GUARDS (2020), AND NEW STORM DOORS (2023). BOILER IS MAINTAINED ANNUALLY & IN GOOD CONDITION. FOUR UNITS HAVE BEEN RENOVATED IN THE LAST 5 YEARS. TENANTS PAY FOR ELECTRIC. COMMON LAUNDRY ROOM WITH COIN OPERATED WASHER & DRYER OWNED BY THE SELLERS WITH POTENTIAL FOR ADDITIONAL INCOME. PROFORMA CAP RATE WITH MARKET RENTS IN PLACE IS AN IMPRESSIVE 13%.
Location
State IL
County Cook
Zoning MULTI
Interior
Fireplace N
Exterior
Utilities Available Water Available
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick,Concrete
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2600 S. Michigan Ave., STE 102, Chicago, IL, 60616, United States