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Listed by Philip Leighof Essex 312, LLC
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Est. payment /mo
11 Beds
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12677712
Bedrooms 11
Annual Tax Amount $13,112
Tax Year 2024
Lot Dimensions 3777
Property Sub-Type Two to Four Units
Property Description
Legal 4-unit building in Bronzeville with a 3 Bed / 2 Bath unit available for owner occupancy. The property consists of (3) large 3 bed / 2 bath units and (1) 2 bed / 2 bath garden. Renovated in 2017, all units enjoy in-unit laundry, central air conditioning, and granite counter tops. The property is being listed at an attractive 9.3x gross rent multiple or roughly 6.4% cap rate on in-place cash flows. If the existing lease roll were marked to current market rents, the property would generate $109,620 in gross annual income and stabilize at a 7.7% cap rate without the need for major renovations. Bronzeville continues to experience substantial residential and commercial development activity, driving long-term appreciation and rent growth. The building sits half a block from the CTA Green line station, providing a short commute downtown for owners and tenants alike.
Location
State IL
County Cook
Rooms
Basement Finished, Full
Interior
Heating Natural Gas
Fireplace N
Exterior
View Y/N true
Building
Sewer Public Sewer
Water Public
Structure Type Stone
New Construction false
Schools
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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Joanna Lewkowicz
Designated Managing Broker | Owner | 471.018027 471018027
+1(708) 963-0011 | joanna@boutiquehomerealty.com