$3,695,000
$3,900,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
8,509 SqFt
SOLD DATE : 02/28/2025
Key Details
Sold Price $3,695,000
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
Square Footage 8,509 sqft
Price per Sqft $434
MLS Listing ID 12206392
Sold Date 02/28/25
Maintenance Fees $9,050
Year Built 2024
Annual Tax Amount $26,374
Tax Year 2023
Lot Dimensions 24X125
Property Sub-Type Multi Family 5+
Property Description
TOTAL Gut Rehab/New Construction All-Brick 5-Unit Building in Prime East Lakeview! Each expansive, condo-quality unit is crafted with designer finishes and showcases a modern, open-concept floor plan that makes an impression. Key Features: * Spacious Condo-Quality Units: Generous floor plans with high ceilings, abundant natural light, and sleek hardwood floors throughout, including common areas. * Perfect for Roommates: Each bedroom is equally sized, comfortably fitting a queen bed and dresser. * Gourmet Kitchen & Designer Finishes: Modern and stylish kitchens open into bright, airy living spaces, perfect for entertaining. * Luxurious Conveniences: Full-size front load washer/dryer in every unit, central A/C, individual furnaces, and a security intercom system for peace of mind. * Outdoor Living: Enjoy multiple outdoor spaces to soak in the city vibes. Rent Roll/Financials: 5,600 = 4 bed / 3 bath garden #G, 6,000 = 4 bed / 3 simplex #1, 6,200 = 4 bed / 3 bath simplex #2, 6,200 = 4 bed / 3 bath simplex #3, 5,000 = 3 bed / 3 bath penthouse #4, 700 = 3 Parking Spaces (rented 2 for 350 each), 29,700 = Monthly Rent, 6,650 = Annual Move-In Fees, TOTAL Annual Rental Income = 363,050, TOTAL Annual Operating Expenses = 73,445, NOI (prior to debt service) = 289,605, GRM = 10.9, CAP RATE = 7.4 Location Perks: Nestled in vibrant East Lakeview, you're walking distance to the lakefront, CTA Red Line, and all the restaurants, cafes, and entertainment that make this area one of Chicago's most desirable neighborhoods. Don't miss this rare investment opportunity-ideal for 1031 exchanges or any buyer looking for a great return on on their investment! You will not find anything else like this on on the market!!! Agent interest.
Location
State IL
County Cook
Area Chi - Lake View
Zoning MULTI
Interior
Cooling Central Air, Central Individual
Fireplace N
Building
Level or Stories 5
Structure Type Brick,Steel Siding,Stone
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