1210-1216 W Diversey Pky - Apartments FOR SALE


Chicago, IL 60614- Lincoln Park
$1,575,000 USD
773-293-5045
1210-1216 W Diversey Pky, Chicago, IL for Sale
$1,575,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

1210-1216 W Diversey Pky
Chicago, IL 60614
Lincoln Park


HIGHLIGHTS

  • Lakeview/Lincoln Park
  • 0.3 miles to Diversey CTA train, 1.0 mile to Lake Michigan, Trader Joes and DePaul 0.5 miles
  • Rents are 12% below market for comparable properties
  • Beermiscuious retail tenant with 5 years remaining on term and 3% annual increases, been operating here since 2013

OVERVIEW

Kiser Group has been exclusively engaged to market for sale 1216 W. Diversey / 2812 N. Lincoln, a 4-unit mixed-use wrap around building. The property is located in Lakeview/Lincoln Park's 6-corner intersection and features two frontages - on both Diversey and Lincoln. Situated on the border of two of the most popular Chicago neighborhoods: Lakeview and Lincoln Park. The unit mix is comprised of three (3) 3 bed / 1 bath apartments and one (1) ground floor retail space. The apartments were renovated in 2012 and feature kitchens with granite countertops, stainless steel appliances and individual HVAC and hot water tanks. The ground floor retail tenant is a well-established tap room - Beermiscuous - who has operated in this location since 2013 and has 5 years remaining with 3% annual increases. The retail space is built out with lofted ceilings, modern tiling and hardwood floors throughout. 1216 W. Diversey / 2812 N. Lincoln offers the opportunity to acquire a well-located asset with opportunity to grow apartment rents as they are 12% below market. Situated 0.3 miles to CTA Brown/Purple lines, 0.1 miles to Lake Michigan, 0.5 miles to DePaul's campus, this acquisition provides consistent demand in a continuously changing market.

FOR SALE DETAILS

PRICE

$1,575,000 USD

PRICE/SF

$80 USD /SF

# OF UNITS

3

PRICE/UNIT

$525,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

B3-3, Chicago

APN/PARCEL ID

14-29-131-044-0000,14-29-131-052-0000

ASK ABOUT THIS PROPERTY

Jacob PriceKiser GroupMore Info
773-293-5045

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Jacob PriceKiser GroupMore Info
773-293-5045

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.