7369-7379 N Damen Ave - Apartments FOR SALE


Chicago, IL 60645- Rogers Park
$5,200,000 USD
773-293-5015
7369-7379 N Damen Ave, Chicago, IL for Sale
$5,200,000 USD
Apartments - FOR SALE
1/27
null | 6.95% Cap Rate

7369-7379 N Damen Ave
Chicago, IL 60645
Rogers Park


OVERVIEW

Kiser Group has been exclusively engaged to market for sale 7369 N. Damen Ave, a 39-unit courtyard building in Chicago’s Rogers Park neighborhood. The property consists of 36 legal units and 3 non-conforming garden units. Located in a highly walkable area, 7369 N. Damen is within close proximity to public transportation, including the CTA Red, Purple, and Yellow Lines at the Howard Station (0.5 miles). The building is comprised of (19) 1bd/1ba, (18) 2bd/1ba and (2) 3bd/2ba. Under current ownership, Capital improvements completed include copper plumbing throughout, a newer Weil-McLain boiler (2017), updated electrical wiring, a newer hot water system (2016), and a full tear-off replacement of half the roof (2020). A new owner has the opportunity to unlock significant value through full-unit renovations and duplexing the three non-conforming garden units, creating (2) 5bd/3ba units and (1) 3bd/2ba unit. Additionally, current rents are approximately 30% below market for comparable modernized units, presenting an immediate opportunity for increased cash flow through upgrades and improved leasing strategies.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$142 USD /SF

# OF UNITS

36

PRICE/UNIT

$144,444

CAP RATE

6.95%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,236 SF

ZONING

R-4, Chicago

APN/PARCEL ID

11-30-408-002-0000

ASK ABOUT THIS PROPERTY

Danny LogarakisKiser GroupMore Info
773-293-5015

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Danny LogarakisKiser GroupMore Info
773-293-5015

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