6351 N Lakewood Ave - Apartments FOR SALE


Chicago, IL 60660- Edgewater
$5,700,000 USD
773-293-5045
6351 N Lakewood Ave, Chicago, IL for Sale
$5,700,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

6351 N Lakewood Ave
Chicago, IL 60660
Edgewater


HIGHLIGHTS

  • 4.74% Assumable financing through 4/1/28
  • 15%+ Upside in current rents
  • 1, 2, and 3 bedroom apartments with central heating and cooling
  • Updated building mechanical systems
  • 0.1 Miles to the Loyola University Chicago Campus
  • 0.3 Miles to Loyola CTA Red Line

OVERVIEW

Kiser Group has been exclusively engaged to market for sale 6351 N. Lakewood, a 33-unit mixed-use property in Chicago's Edgewater neighborhood. This 1920s constructed asset is well-situated just 0.1 miles to Loyola's campus, 0.3 miles to the Loyola Red Line CTA station, and 0.4 miles to Lake Michigan. The building features a strong unit mix of eight (8) 1 bed / 1 bath units, seventeen (17) 2 bed / 1 bath units, and two (2) 3 bed / 2 bath apartments. Units offer individual HVAC systems with varying levels of interior finishes and exposed brick walls. Also, there are three (3) retail tenants who occupy six (6) storefront spaces, totaling ~4,950 square feet. Common amenities include a laundry room and bike storage area. Current apartment rents are ~15% below market, with even further upside by modernizing interior finishes. 6351 N. Lakewood offers the opportunity to acquire a historical asset with additional value-add potential. Furthermore, assumable financing is available through April 1st, 2028, at a 4.74% interest rate.

FOR SALE DETAILS

PRICE

$5,700,000 USD

PRICE/SF

$335 USD /SF

# OF UNITS

15

PRICE/UNIT

$380,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,264 SF

ZONING

B3-2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Jacob PriceKiser GroupMore Info
773-293-5045

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Jacob PriceKiser GroupMore Info
773-293-5045

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