1256 S Independence Blvd - Apartments FOR SALE


Chicago, IL 60623- Lawndale
$1,599,000 USD
312-286-0427
1256 S Independence Blvd, Chicago, IL for Sale
$1,599,000 USD
Apartments - FOR SALE
1/25
null | 11.26% Cap Rate

1256 S Independence Blvd
Chicago, IL 60623
Lawndale


OVERVIEW

CASH ONLY. SOLD AS-IS, with Violations. Work for the violations has largely been completed but city hasn't signed off on work. 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. 10 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 $20,897 with 92% occupancy.

FOR SALE DETAILS

PRICE

$1,599,000 USD

PRICE/SF

$89 USD /SF

# OF UNITS

18

PRICE/UNIT

$88,833

CAP RATE

11.26%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

18 UNITS /// 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.