Kiser Group has been exclusively engaged to market for sale 2630-32 W. Winnemac, a center-entrance 6-flat in Chicago's Lincoln Square neighborhood. This 1928 vintage property has been with the same family for over 30 years and is positioned 0.6 miles from the Lincoln Ave shopping corridor and 0.5 miles from the Rockwell CTA Brown Line.
2630-32 W. Winnemac is comprised of six (6) ~1400 sqft apartments, each with 3 bedrooms, 1 bathroom, and separate living and dining rooms, plus five (5) garage parking spaces for additional income. The property was maintained by an owner-occupant and capital projects included work to the parapet wall, tuckpointing, roof, porches, and plumbing. All units feature charming vintage finishes and are ready for a refresh.
With the acquisition of 2630-32 W. Winnemac, a new investor has the opportunity to acquire a generational Lincoln Square asset and add value by renovating the property, reconfiguring apartment layouts to 3 Bed / 2 Bath floor plans, and moving rents to market levels. Current rents are 43% below market for comparable modernized product.