$1,675,000
$1,750,000
4.3%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 03/05/2021
Key Details
Sold Price $1,675,000
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 10911404
Sold Date 03/05/21
Maintenance Fees $5,400
Year Built 1927
Annual Tax Amount $19,401
Tax Year 2019
Lot Dimensions 50X142
Property Sub-Type Multi Family 5+
Property Description
2317-2325 W. Chase Ave. is comprised of nine (9) 1Bd/1Ba, two (2) 2Bd/1Ba, one (1) 4Bd/2Ba, and two (2) parking spaces in the rear. The building features a boiler, a new A.O. Smith hot water heater installed in 2019, 200 amp electric service, and coin-operated laundry. The apartments feature radiator heat, hardwood floors, white appliances, wood cabinetry, laminate countertops, separate dining rooms, and window air conditioning units. The Property presents investors with multiple investment strategies. There is potential for a new owner to bring rents to market over time. For example, two-bedroom units at the building currently average $1,165/month, while nearby vintage units rent for $1,200-$1,250/month. Alternatively, investors may elect to update the units with modern finishes, individual HVAC, and in-unit laundry to achieve premium market rents. Nearby, renovated two-bedroom units rent for $1,300-$1,350/month.
Location
State IL
County Cook
Area Chi - West Ridge
Zoning MULTI
Interior
Cooling Partial
Fireplace N
Building
Level or Stories 3
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