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2450 W Chicago Avenue

Chicago, IL 60622
  • $1,895,000
  • STATUS: Active
  • ON SITE: 51 Days
  • MLS #: 11238897
UPDATED: 10 min ago
$1,895,000
  • 0
    BEDS
  • 0.06
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1907
County:

School Ratings & Info

Description

Completely turnkey investment. In-place 6% cap rate w/ ability to push rents to close to 7% cap rate. Absolutely no expense spared in this one of a kind fully rehabbed 6-flat in the heart of West Town! A+ location near tons of restaurants, shops, nightlife. Every aspect of this rehab was thoughtfully planned by a professional designer and architect and meticulously executed. Three on-site parking spaces. Building features six total units (5 dwelling units / 1 commercial space), all with perfect layouts: two 2-bedroom/2-bathroom units, three 1-bedroom/1-bathroom units, commercial space built out as lofted space w/ full kitchen and bathroom. All units feature everything the most discerning renters desire: luxury kitchens and bathrooms, hardwood floors, large bedrooms, in-unit laundry, central HVAC, custom closets throughout, designer light and plumbing fixtures. Bright units with tons of natural light. New windows, rear staircase, commercial storefront. Private outdoor space off rear units. Perfect as owner occupied property or turnkey income producing investment. Fully leased and occupied grossing $140k/year. Lots of room to push rents to $155k+ gross. Zoned B1-2.

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© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Littlefield Group | Keller Williams Realty. Based on information submitted to the MRED as of 2021-11-26T20:58:55.943 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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2450 W Chicago Avenue Chicago, IL 60622

  • Price: $1,895,000
  • Status: Active
  • On Site: 51 Days
  • Updated: 10 min ago
  • MLS #: 11238897
0
Beds
0
Baths
0
½ Baths
0.06
Acres
1907
Built
Neighborhood:
Chi - West Town
County:
Cook
Area:
Chi - West Town
Property Description
Completely turnkey investment. In-place 6% cap rate w/ ability to push rents to close to 7% cap rate. Absolutely no expense spared in this one of a kind fully rehabbed 6-flat in the heart of West Town! A+ location near tons of restaurants, shops, nightlife. Every aspect of this rehab was thoughtfully planned by a professional designer and architect and meticulously executed. Three on-site parking spaces. Building features six total units (5 dwelling units / 1 commercial space), all with perfect layouts: two 2-bedroom/2-bathroom units, three 1-bedroom/1-bathroom units, commercial space built out as lofted space w/ full kitchen and bathroom. All units feature everything the most discerning renters desire: luxury kitchens and bathrooms, hardwood floors, large bedrooms, in-unit laundry, central HVAC, custom closets throughout, designer light and plumbing fixtures. Bright units with tons of natural light. New windows, rear staircase, commercial storefront. Private outdoor space off rear units. Perfect as owner occupied property or turnkey income producing investment. Fully leased and occupied grossing $140k/year. Lots of room to push rents to $155k+ gross. Zoned B1-2.
Exterior Features

Exterior Building Type Brick Foundation Details Concrete Perimeter Frontage Type City Street Parking Total 3 Roof Rubber Roof Structure Flat

Interior Features

Basement Unfinished Cooling Central Air Heat Ventilation Central Heat/Indiv ControlsGas Number Of Dishwashers 6 Number Of Dryers 6 Number Of Ranges 6 Number Of Washers 6

Property Features

Additional Parcels YN No Approximate Age New Rehab Built Before1978 YN Yes Gross Income 140220 Gross Scheduled Income 140220 Insurance Expense 2800 Maintenance Expense 0 Net Operating Income 113000 Operating Expense 27100 Ownership Types Limited Liability Corp Tax Annual Amount 5815 Tax Year 2020 Tenant Pays ElectricityHeatHot Water Total Monthly Income 11585 Township West Chicago Type Multi Family 5+ Zoning Commr

Listing information © 2021 Midwest Real Estate Data LLC.
Listing provided courtesy of Campbell Street Asset Management Inc.


© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively 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. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Littlefield Group | Keller Williams Realty. Based on information submitted to the MRED as of 2021-11-26T20:58:55.943 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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Littlefield Group | Keller Williams Realty
2441 Village Green Place
Champaign IL, 61822