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    1222 Argyle Street

    Chicago, IL 60640
    • $1,949,000
    • STATUS: Active Under Contract
    • ON SITE: 59 days
    • MLS #: 10841605
    Under Contract
    UPDATED: 204 min ago
    $1,949,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,995
      SQFT
    • $244
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1907
    County:
    Area:

    School Ratings & Info

    Description

    Rarely Available Center-Entrance Six Flat apartment building primely located in the popular and rapidly growing Uptown neighborhood. This Turn-Key property consists of six (6) apartments all of which were remodeled in 2014. There are four (4) three bedroom, two bathrooms, one (1) four bedroom, three bathroom and one (1) five bedroom, three bathroom. The building is fully rented with multiple tenants on long-term leases. Apartment layouts feature spacious kitchen/living combo rooms, large bedrooms and high ceilings. All apartments have central heat/air, washer/dryer, stainless steel appliances and private balconies. The building sits on an extra-long double lot (50' by 137') and contains six (6) parking spaces directly behind the building. Walking distance to the Argyle Red Line (.2 miles) as well as the lake, multiple beaches, parks and easy access to Lake Shore Drive. This offering provides an investor the opportunity to acquire a stabilized well performing real asset in an irreplaceable location with under-market rents. A new ownership group could continue to capitalize on the strong rental market of Uptown while limiting their exposure to future capital expenditures with a property that was fully renovated in the last 6 years and is in turn-key condition. There is a secondary investment approach to the building as the RT-4 zoning status allows for a condo conversion.

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    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or BNRealty | RE/MAX Rising. Based on information submitted to the MRED as of 2020-10-30T23:51:00.3 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    1222 Argyle Street Chicago, IL 60640

    • Price: $1,949,000
    • Status: Active Under Contract
    • Updated: 204 min ago
    • MLS #: 10841605
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    7,995
    SQFT
    $244
    $/SQFT
    1907
    Built
    Neighborhood:
    Chi - Uptown
    County:
    Cook
    Area:
    Chi - Uptown
    Property Description
    Rarely Available Center-Entrance Six Flat apartment building primely located in the popular and rapidly growing Uptown neighborhood. This Turn-Key property consists of six (6) apartments all of which were remodeled in 2014. There are four (4) three bedroom, two bathrooms, one (1) four bedroom, three bathroom and one (1) five bedroom, three bathroom. The building is fully rented with multiple tenants on long-term leases. Apartment layouts feature spacious kitchen/living combo rooms, large bedrooms and high ceilings. All apartments have central heat/air, washer/dryer, stainless steel appliances and private balconies. The building sits on an extra-long double lot (50' by 137') and contains six (6) parking spaces directly behind the building. Walking distance to the Argyle Red Line (.2 miles) as well as the lake, multiple beaches, parks and easy access to Lake Shore Drive. This offering provides an investor the opportunity to acquire a stabilized well performing real asset in an irreplaceable location with under-market rents. A new ownership group could continue to capitalize on the strong rental market of Uptown while limiting their exposure to future capital expenditures with a property that was fully renovated in the last 6 years and is in turn-key condition. There is a secondary investment approach to the building as the RT-4 zoning status allows for a condo conversion.
    Exterior Features

    Construction Brick Lot Dimensions 50X137 Lot Sq Ft 6800 Number Of Parking Spaces 6 Roof Structure Flat

    Interior Features

    Number Of Bedrooms Type5 0 Number Of Bedrooms Type6 0 Number Of Bedrooms Type7 0 Number Of Bedrooms Unit1 3 Number Of Bedrooms Unit2 5 Number Of Bedrooms Unit3 4 Number Of Bedrooms Unit4 0 Number Of Full Bathrooms Type1 2 Number Of Full Bathrooms Type2 3 Number Of Full Bathrooms Type3 3 Number Of Rooms Unit Five 0 Number Of Rooms Unit Four 0 Number Of Rooms Unit Six 0 Number Of Rooms Unit1 5 Number Of Rooms Unit2 8 Number Of Rooms Unit3 7 Number Of Rooms Unit7 0 Number Of Stories 3 Number Of Units Apt Type1 4 Number Of Units Apt Type2 1 Number Of Units Apt Type3 1 Number Of Units Apt Type4 0 Number Of Units Apt Type5 0 Number Of Units Apt Type6 0 Number Of Units Apt Type7 0 Repairs Decor Expense 500

    Property Features

    Age Older Built Before1978 YN Yes Contingency Flag Attorney/Inspection Electric Expense Source Owner Projection Electricity Expense 1600 Expense Year 2010 Exterior Building Type Brick Fuel Expense 0 Fuel Expense Source Owner Projection Gross Rental Income Amount 167220 Heat Ventilation Central Bldg Heat Insurance Expense 4000 Insurance Expense Source Owner Projection Janitor Expense 1500 Janitor Expense Source Owner Projection Monthly Income Max1 7990 Monthly Income Max2 2735 Monthly Income Max3 3110 Net Oper Income Amount 112079 Net Operating Income Year 2010 Other Expense Source Owner Projection Other Expenses 0 Tax Year 2019 Taxes 17343.4 Tenant Pays Electric Total Annual Exp 48452 Total Annual Expense Source Owner Projection Total Annual Income 167220 Total Monthly Income 13935 Township Lake View Type Multi Family Flats Water Expense 1800 Water Expense Source Owner Projection Zoning Type Multi

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Peak Realty Chicago.


    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or BNRealty | RE/MAX Rising. Based on information submitted to the MRED as of 2020-10-30T23:51:00.3 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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