2525 N Orchard St - Apartments FOR SALE


Chicago, IL 60614- Lincoln Park
$3,000,000 USD
847-691-7800
2525 N Orchard St, Chicago, IL for Sale
$3,000,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

2525 N Orchard St
Chicago, IL 60614
Lincoln Park


HIGHLIGHTS

  • Building Significantly Renovated in 2022
  • Six Units in Prime Lincoln Park Location Consisting of Desirable 1, 2 & 3 Bedroom Layouts
  • Attractive Assumable Debt Available @ 5.73%

OVERVIEW

2525 N. Orchard St. is a turn-key 6-unit apartment building located in Chicago’s highly desirable and rarely available Lincoln Park neighborhood. This remarkable property was recently renovated and boasts bright, sun-filled units with generous floorplans, including separate living and dining areas. Some units feature large, enclosed sunrooms, offering tenants additional space and generous light, while the standout top-floor unit is a rare find—a 3-bedroom, 2-bathroom layout with the spacious feel of a single-family home. Along with 2530 N. Orchard St., this is an incredible chance to secure two prime pieces of Lincoln Park real estate. RENOVATION IN 2022 The property underwent significant renovations in 2022, including the addition of two new apartments, all-new electrical systems, and partial plumbing upgrades. These updates introduced modern finishes to all units, such as stainless steel appliances, quartz countertops, hardwood floors, in-unit laundry, individual hot water heaters, and HVAC systems. LOCATION 2525 N. Orchard St. is located in the heart of Lincoln Park, adjacent to DePaul University, and less than 0.5 miles from the Fullerton CTA Train Station (Red, Brown, and Purple lines). It is also 0.8 miles from Lake Michigan. The property is within walking distance of Diversey Parkway and Halsted Street’s commercial areas and 1.5 miles from Wrigley Field, offering tenants easy access to Cubs games and Wrigleyville nightlife. ASSUMABLE DEBT AVAILABLE This property includes an assumable loan, currently interest-only, with the following terms: Current Balance: $2,000,000 Interest Rate: 5.73% Fixed Amortization Start Date: September 1, 2025 Maturity Date: September 1, 2028 This loan offers potential buyers a compelling financing option with the possibility of above-average cash returns at below-market interest rates. ADDITIONAL PROPERTY FOR SALE The seller is also offering 2530 N. Orchard St., located just steps away, presenting investors with the opportunity to acquire two turn-key assets in a prime neighborhood.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$720 USD /SF

# OF UNITS

6

PRICE/UNIT

$500,000

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

1881

PARKING SPACES

3

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

14-28-313-003-0000

ASK ABOUT THIS PROPERTY

Rick OfmanEssex Realty Group, LLCMore Info
847-691-7800

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Rick OfmanEssex Realty Group, LLCMore Info
847-691-7800

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