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    Address Not Available By Request

    Chicago, IL 60616
    • $3,250,000
    • STATUS: Active
    • ON SITE: 198 days
    • MLS #: 10768541
    $3,250,000
    • 0
      BEDS
    • 0.05
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,400
      SQFT
    • $226
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    2020
    County:

    School Ratings & Info

    Description

    Beautifully Finished High Quality 6 unit Building in River's Edge(Southwest Loop) along East Pilsen. This pocket of Chicago is just over the bridge from the "already developed" South Loop. The 6 Top End Units Are rented for a Gross Income over $23,000 a month has this one hovering a 7 cap. Buy and collect the cashflow as you watch the surrounding development bloom in this hot pocket. Appreciation is predictable here with over 350 units within 6 blocks passed through Chicago Plan Commission and/or being built. This pocket has a more pro-development politics than Pilsen west of 90-94. This is superior location. Construction on this 15,000 plus square foot premium building just finished in June 2020. We Rented units quickly for July/Aug (they are that nice)...... Layouts: There are 6 units with 3 layouts(2 duplex up,2 duplex down, and 2 simplexes between). They are ALL desirable three bedrooms units so you will not compete in the saturated 2 bed rental market during this work-at-home era when most tenants want more "work at home" space/home offices...etc... MORE UNIT DETAILS: The duplex Up's are ~2400 sf with 3 beds and 2.1 baths and 3 outdoor spaces Roof walkout, rear large deck and front private balcony-unique & impressive. The duplex down has 3 beds and 2.1 baths and even larger bedrooms w windows that pop light into the space so it does not "feel" like it is on a lower level... The duplexes all beat the competition: The top level of the duplex up is a to-die-for amazing open space and the duplex down is so over-sized your tenants will never leave. The center simplex units(sandwiched nicely between the duplex up and duplex downs) are stylish 3 bed 2 about 1250 sf each with front balcony and large deck. Each unit has amazing window placement to give you light, bright and easy to rent space with all the amenities..... LOCATION DETAILS: This hot location offers more than the tired and older lower callers of the "already-baked and already-boomed" areas north of the loop. Forbes did not call this location (East Pilsen) "One of the Globes Coolest 12 Neighborhoods" for nothing. The movement IS to this magnet now. ON THE MAP: A 4000 seat music venue(Radius) is 2 blocks south(640 w cermak) and a land parcel around corner has 300+ unit planned unit development (19th Jefferson-was submitted to the city in 2019). Many other scattered sites of development within blocks. As This pocket of Pilsen has more land to build on, Jewel is 3 blocks up Canal, Whole Foods/Icon Theatres and Roosevelt District is at 1200 south ( that is 6 blocks north). The south loop is A walk East over 18th st bridge at Canal/18th. Metra stop at Halsted/16th. Red line (cermak / wentworth) and orange line(halsted/archer) are walkable just under a mile for either. Tenants have a plethora of options for transportation. CONSTRUCTION SPECS: Total sf approx 15682 total sf (1st floor 3481, 2nd 3169, 3rd 3481, 4th 2070) + decks and roof areas. Private hi-quality gate/fence and buzzer system to interior stylish private lobby and heated interior stairway. Scavenger area. Landscaped smart and easy for upkeep. Roof areas have terf for lively use for view of city and skyline. Appliances in all units stay - washer/dryers in each unit. Tenants pay heat and light (gas and electric) in each unit. Upgraded S S appliances, Quartz, Spa baths, Huge Decks and Multiple outdoor spaces, Quality Windows, Brick, Moldings, Plumbing Fixtures, Floors, Doors . Offer Memo available. Floorplans online. Call for showing. ONE LAST POINT - SELL AS CONDOS WHEN YOU EXIT: One last point to cap it off: Get more for your cash flow yes, and appreciation but a Key distinction is worthy to note : Because of the condo++ quality finishes here you can easily exit as actual condos after a tax ID split and sellout for a 5-10% premium ! Sell as condos or as income property when you move on and crank up that cap gain.

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    © 2021 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 2021-01-16T23:51:40.19 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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    Address Not Available By Request Chicago, IL 60616

    • Price: $3,250,000
    • Status: Active
    • MLS #: 10768541
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.05
    Acres
    14,400
    SQFT
    $226
    $/SQFT
    2020
    Built
    Neighborhood:
    Chi - Lower West Side
    County:
    Cook
    Area:
    Chi - Lower West Side
    Property Description
    Beautifully Finished High Quality 6 unit Building in River's Edge(Southwest Loop) along East Pilsen. This pocket of Chicago is just over the bridge from the "already developed" South Loop. The 6 Top End Units Are rented for a Gross Income over $23,000 a month has this one hovering a 7 cap. Buy and collect the cashflow as you watch the surrounding development bloom in this hot pocket. Appreciation is predictable here with over 350 units within 6 blocks passed through Chicago Plan Commission and/or being built. This pocket has a more pro-development politics than Pilsen west of 90-94. This is superior location. Construction on this 15,000 plus square foot premium building just finished in June 2020. We Rented units quickly for July/Aug (they are that nice)...... Layouts: There are 6 units with 3 layouts(2 duplex up,2 duplex down, and 2 simplexes between). They are ALL desirable three bedrooms units so you will not compete in the saturated 2 bed rental market during this work-at-home era when most tenants want more "work at home" space/home offices...etc... MORE UNIT DETAILS: The duplex Up's are ~2400 sf with 3 beds and 2.1 baths and 3 outdoor spaces Roof walkout, rear large deck and front private balcony-unique & impressive. The duplex down has 3 beds and 2.1 baths and even larger bedrooms w windows that pop light into the space so it does not "feel" like it is on a lower level... The duplexes all beat the competition: The top level of the duplex up is a to-die-for amazing open space and the duplex down is so over-sized your tenants will never leave. The center simplex units(sandwiched nicely between the duplex up and duplex downs) are stylish 3 bed 2 about 1250 sf each with front balcony and large deck. Each unit has amazing window placement to give you light, bright and easy to rent space with all the amenities..... LOCATION DETAILS: This hot location offers more than the tired and older lower callers of the "already-baked and already-boomed" areas north of the loop. Forbes did not call this location (East Pilsen) "One of the Globes Coolest 12 Neighborhoods" for nothing. The movement IS to this magnet now. ON THE MAP: A 4000 seat music venue(Radius) is 2 blocks south(640 w cermak) and a land parcel around corner has 300+ unit planned unit development (19th Jefferson-was submitted to the city in 2019). Many other scattered sites of development within blocks. As This pocket of Pilsen has more land to build on, Jewel is 3 blocks up Canal, Whole Foods/Icon Theatres and Roosevelt District is at 1200 south ( that is 6 blocks north). The south loop is A walk East over 18th st bridge at Canal/18th. Metra stop at Halsted/16th. Red line (cermak / wentworth) and orange line(halsted/archer) are walkable just under a mile for either. Tenants have a plethora of options for transportation. CONSTRUCTION SPECS: Total sf approx 15682 total sf (1st floor 3481, 2nd 3169, 3rd 3481, 4th 2070) + decks and roof areas. Private hi-quality gate/fence and buzzer system to interior stylish private lobby and heated interior stairway. Scavenger area. Landscaped smart and easy for upkeep. Roof areas have terf for lively use for view of city and skyline. Appliances in all units stay - washer/dryers in each unit. Tenants pay heat and light (gas and electric) in each unit. Upgraded S S appliances, Quartz, Spa baths, Huge Decks and Multiple outdoor spaces, Quality Windows, Brick, Moldings, Plumbing Fixtures, Floors, Doors . Offer Memo available. Floorplans online. Call for showing. ONE LAST POINT - SELL AS CONDOS WHEN YOU EXIT: One last point to cap it off: Get more for your cash flow yes, and appreciation but a Key distinction is worthy to note : Because of the condo++ quality finishes here you can easily exit as actual condos after a tax ID split and sellout for a 5-10% premium ! Sell as condos or as income property when you move on and crank up that cap gain.
    Exterior Features

    Construction Materials Brick Foundation Details Concrete Perimeter Frontage Type City StreetFrontage Road Land Amenities Curbs And GuttersLighting/ExteriorSecurity EntranceSidewalksCable Ready Location Central Business DistrictPublic Transport AvailEmpowerment ZoneEnterprise Zone Miscellaneous Outside Balcony/IesEnclosed StairsFire EscapeSecurity GateSecurity LightingSecurity SystemStorms And Screens (As Exist)Sun Deck Outdoor Parking 6-12 Spaces Parking Total 6 Roof Membrane Roof Structure Flat

    Interior Features

    Cooling Central Air Electric Over 600 Amps Fire Protection Fire Extinguisher/SCarbon Monoxide Detector(S) Fireplaces Total 0 Heat Ventilation Central Heat/Indiv ControlsForced AirGas Miscellaneous Inside Inside Corridor/S Number Of Bedrooms Type5 0 Number Of Bedrooms Type6 0 Number Of Bedrooms Unit1 3 Number Of Bedrooms Unit2 3 Number Of Bedrooms Unit3 0 Number Of Bedrooms Unit4 0 Number Of Dishwashers 6 Number Of Disposals 6 Number Of Dryers 6 Number Of Full Bathrooms Type1 2 Number Of Full Bathrooms Type2 2.1 Number Of Ranges 6 Number Of Refrigs 6 Number Of Rooms Unit Five 0 Number Of Rooms Unit Four 0 Number Of Rooms Unit Six 0 Number Of Rooms Unit1 7 Number Of Rooms Unit2 9 Number Of Rooms Unit3 0 Number Of Rooms Unit7 0 Number Of Units Apt Type1 2 Number Of Units Apt Type2 4 Number Of Units Apt Type3 0 Number Of Units Apt Type4 0 Number Of Units Apt Type5 0 Number Of Units Apt Type6 0 Number Of Units Apt Type7 0 Number Of Washers 6 Number Of Window Ac 0

    Property Features

    Additional Parcels YN Yes Built Before1978 YN No Cap Rate 7.1 Current Use Multi-Family Electric Expense 50 Exterior Building Type Brick Fuel Expense 0 Green Energy Efficient Low Flow CommodeLow Flow Fixtures Gross Income 280800 Gross Scheduled Income 280800 Insurance Expense 5500 Janitor Expense 1800 Known Encumbrances First Mortgage Lot Size Dimensions 72 X 100 Maintenance Expense 400 Monthly Income Max1 3500 Monthly Income Max2 4500 Net Operating Income Year 2020 Operating Expense 42000 Other Expense 0 Possible Use CondominiumMulti-Family Seller Will Add Existing Paper Tax Annual Amount 28000 Tax Year 2019 Tenant Pays Air ConditioningElectricityHeatHot Water Total Monthly Income 23400 Trash Expense 1500 Type Multi Family Corridor-Interior EntranceCondo/Townhouse Unincorporated YN No Utilities Sanitary SewerSewer-Storm AvailableWater-CommunityWater To Site Washer Dryer Leased YN Yes Water Sewer Expense 3000

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Better Living Realty.


    © 2021 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 2021-01-16T23:51:40.19 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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    501 S Towanda Barnes, Suite 2
    Bloomington IL, 61705