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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
Lot Size: 0.37 AC
Building Size: 13,824 SqF
Zoning: R5
Fully renovated 18 units:
- 16 1 bed
- 1 two bed
- 1 four bed
16units occupied.
Currently brings over $18k/month.
Tenants pay utilities.
Potential income over $21k/m with full occupancy.
2 units still vacant.
4bd unit pending with section 8 $2700 voucher.
1bd voucher $1600 will be move in next 2-3weeks, 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.
Building has vacant lot for parking and on the streets.
Zoned for 38 units ,
super value add opportunity.
Selling for $1.550.000 OBO
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 BROKERS or wholesellers, , Principals ONLY .