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18 Units apartment building for SALE - super value add opportunity
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Exclusive private offering !
18 units building for SALE by the owner.
Michigan Ave
Chicago, IL 60637
near Washington park by University of Chicago
Property size 15300 sqft
Fully renovated
18 units:
- 16 1 bed
- 1 two bed
- 1 four bed
15units occupied.
Currently brings over $18k/month.
3 units vacant.
4bd unit pending with $2700 voucher.
1bd voucher $1600 will be move in next week So nearly done.
rents are real low,
$850-900 for 1b, should be over $1050.
So net income could be higher, would need operational efficiency, better management.
Projected total income with increasing rent iver $22k/ month.
Building has vacant lot for the parking and on the streets.
Zoned for 38 units ,
super value add opportunity.
Selling for $1.599.000
Huge value add opportunity, rented below market value . Wait a little bit for Obama library to finished, And it should explode in value up.
No REALTORS or WHOLESELLERS.
for PRINCIPALS ONLY