1256 S Independence Blvd - Apartments FOR SALE


Chicago, IL 60623
$1,799,000 USD
312-286-0427
1256 S Independence Blvd, Chicago, IL for Sale
$1,799,000 USD
Apartments - FOR SALE
1/27
null | 10.95% Cap Rate

1256 S Independence Blvd
Chicago, IL 60623


OVERVIEW

CASh ONLY. SOLD AS-IS, with Violations. Estimated cost to complete violations $50,000 This is a fantastic opportunity to acquire a partially gut-rehabbed building located on Independence Boulevard right in the up-and-coming neighborhood of North Lawndale. This 18-unit building offers a great unit mix of 2,3 and 4-bedroom units. All units are individually metered and offer very spacious layouts. The building has 12 units of 2BR/1BA, 3 units of 3BR/1BA and 3 units of 4BR/1BA. The basement has a coin laundry room with 3 washers and 3 dryers. Security cameras have been installed around the building. 8 units have been upgraded in the last year. Each unit has its own gas meter, water heater, and electric meter. For investors looking for a value add, there is space to add 6 more garden units. The current monthly rent roll is over $22,000 with 90% occupancy.

FOR SALE DETAILS

PRICE

$1,799,000 USD

PRICE/SF

$100 USD /SF

# OF UNITS

18

PRICE/UNIT

$99,944

CAP RATE

10.95%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Turnkey 18 Unit Building in North Lawndale

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1909

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

8,930 SF

ZONING

RT-4

APN/PARCEL ID

16-23-103-033-0000

ASK ABOUT THIS PROPERTY

Lawrence DunningMain Street Real Estate GroupMore Info
312-286-0427

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Lawrence DunningMain Street Real Estate GroupMore Info
312-286-0427

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