3100 W Douglas Blvd - Apartments FOR SALE


Chicago, IL 60623
$1,720,000 USD
630-484-6590
3100 W Douglas Blvd, Chicago, IL for Sale
$1,720,000 USD
Apartments - FOR SALE
1/10
null | 4.01% Cap Rate

3100 W Douglas Blvd
Chicago, IL 60623


HIGHLIGHTS

  • Directly overlooking the beautiful Douglas Park which currently houses a miniature golf course, five playgrounds, an outdoor swimming pool, soccer etc
  • Douglass Blvd and Albany St have street parking on both sides or the street providing double the amount of parking spaces directly in front.
  • Lower Garden Level not currently utilized, room for coin laundry value add.

OVERVIEW

15 Unit Building - 9 units - 2 Bedrooms 835 SqFt, 3 units - 3 Bedrooms 1,168 SqFt, and 3 units - 5 bedrooms units 1,797 SqFt. Rental prices are below market rate, all units are large is size with significant upside on the rental income. The 2024 property taxes will reduce to $16,916 (payable 2025). New boiler was installed October 2023, significantly reducing the operating expenses. The potential Cap Rate is 8% based on the Market Rental Rates, reduced taxes and the the high efficiency boiler.

FOR SALE DETAILS

PRICE

$1,720,000 USD

PRICE/SF

$97 USD /SF

# OF UNITS

15

PRICE/UNIT

$114,667

CAP RATE

4.01%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1913

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

R-3

APN/PARCEL ID

16-24-103-039-0000

ASK ABOUT THIS PROPERTY

Brian PusczanKeller Williams CommercialMore Info
630-484-6590

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

Brian PusczanKeller Williams CommercialMore Info
630-484-6590

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