1244 N Cleaver - Apartments FOR SALE


Chicago, IL 60642
$1,450,000 USD
312-312-9844
1244 N Cleaver, Chicago, IL for Sale
$1,450,000 USD
Apartments - FOR SALE
1/32
null | 6.44% Cap Rate

1244 N Cleaver
Chicago, IL 60642


HIGHLIGHTS

  • Appealed property taxes with the Board of Review and the assessed value for 2023 has been reduced from $120,621 (2022) to $96,056.
  • Assumable loan allows for additional cash flow year 1 with a rate of 4.65% and maturity date of 8/1/2025 with a balance of $815,000. Loan is with FNMA
  • Unfinished Attic. Potential to duplex up.

OVERVIEW

1244 N. Cleaver is a six (6) unit turnkey property situated in the vibrant West Town/Noble Square area. All units are updated units with in-unit W/D, radiant heat flooring, split mini AC and tankless water heaters, sleek kitchens featuring stainless steel appliances and granite countertops. Highlights include potential to Duplex up on top floor, reduced property taxes and an assumable loan with favorable terms to enhance cash flow from day one. Two (2) parking spaces in the rear of the building generate additional income. This property is strategically located near transportation hubs and highways, offering both appeal and convenience. Don't miss out-schedule your showing today!

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$403 USD /SF

# OF UNITS

6

PRICE/UNIT

$241,667

CAP RATE

6.44%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1886

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,123 SF

ZONING

RT-4

APN/PARCEL ID

17-05-123-022-0000

ASK ABOUT THIS PROPERTY

Julia CullhajPeak RealtyMore Info
312-312-9844

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Julia CullhajPeak RealtyMore Info
312-312-9844

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