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Listed by Ryan Widerbergof eXp Realty - Chicago North Ave
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Est. payment | /mo
6,528 SqFt
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Est. payment | /mo
6,528 SqFt
Open House
Sat Oct 03, 10:00am - 1:00pm
Sun Oct 04, 1:00pm - 4:00pm
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 6,528 sqft
MLS Listing ID 12767989
Year Built 1924
Annual Tax Amount $11,858
Tax Year 2025
Lot Size 5,227 Sqft
Lot Dimensions 39X133
Property Sub-Type Multi Family 5+
Property Description
OpenHouses on October 3rd from 10am-1pm & October 4th from 1pm-4pm. Until Just Recently, This Building Total Monthly Income of $8,100 per Month & Can be Filled w/ Tenants Quickly, & Has Potential for a Cap Rate: 19.5% & Cash-on-Cash Return: 42% - Nearly Impossible to Find Anywhere! With Some Updates, You Should be Able to Rent Units to Achieve Gross Rents of $10,500-$11,000 Monthly. 7 of 9 Units Now Vacant - All-Brick 9-Unit on a Quiet Block in Chicago's Hidden Gem - Winneconna Parkway! Check Out This Incredible Investment Opportunity Located in One of Chicago's Most Unique & Desirable Residential Enclaves! Situated in Historic Winneconna Parkway, This All-Brick 9-Unit Building is a True Blank Canvas for the Savvy Investor! With Only 2 Units Occupied, the Next Owner Can Skip Inherited Tenants & Start Fresh w/ Their Own Screening Criteria, Lease Terms & Rent Levels. Light Updates to the Vacant Units Can Position the Building for Strong Rental Income & a Higher Valuation Upon Stabilization - Ideal for Buyers Seeking Forced Appreciation! Featuring Six (2 Bed / 1 Bath) Units and Three (1 Bed / 1 Bath) Units - Totaling 15 Bedrooms and 9 Bathrooms! Most Units Have Gorgeous Hardwood Floors and Separate Living & Dining Rooms! Boiler System Under 9 Years Old - Reducing Near-Term Maintenance Costs! All Units Include Stoves & Refrigerators. Large Building w/ 6,528 Sq Ft & Multiple Basements. Beyond the Numbers, This Building is Located in the Winneconna Parkway / Auburn Park Area, a True Hidden Treasure in One of the Nicest Residential Blocks in All of Chicago. Developed in the Late 1800s on Land Once Owned by Chicago's First Mayor, William B. Ogden, the Area is Known for its Serene Lagoons, Charming Bridges & Historic Architecture! This is More Than Just an Apartment Building - It's an Opportunity to Own Property in a Historically Rich & Highly Promising Area of Chicago. The New Metra Auburn Park Station is Coming to Winneconna Parkway & 79th Street! The 79th Street Corridor Plan is Set to Completely Revitalize and Transform the Area w/ a Vibrant Mix of New Uses! Don't Miss Out on This Rare 9-Unit w/ Massive Upside Potential! OpenHouses on October 3rd from 10am-1pm & October 4th from 1pm-4pm
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling None
Fireplace Y
Exterior
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick
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