5550-5558 W. North Ave. & 1605-1611 N. Central Ave.
Chicago, IL
Multi-family for Sale - $2,050,000 - 33,345 Sq. Ft. on 13503 acres
Property Info
| CIMLS# | 133644 |
| Location 5550-5558 W. North Ave. & 1605-1611 N. Central Ave. Chicago IL 60639 | |
| Updated | June 29th, 2012 |
| Type | Multi-family |
| Price | $2,050,000 |
| Building | 33,345 Sq. Ft. |
| Land | 13503 acres |
Property Description
Bank will entertain all offers on this 36 unit mixed use opportunity. Building is comprised of 17 2Bed which are all approx. 800 SF, 14 1Bed which are all approx. 425 SF, 4 Retail, and 1 Office space. Building has been gutted with 70% of the total project complete. Exposed, tuckpointed brick walls, new windows, new roof, new porches, new framing, new conduit, new copper...the list goes on. Simply drywall, add finishes, and start profiting. Appraiser in May 2010 said approx. $300,000 left to finish building!
Location Description:
Chicago - West.
Highlights:
>> Bank orders immediate sale - all offers will be presented!
>> (17) 2 Beds, (14) 1 Beds, (4) Retail, and (1) Office.
>> Originally planned and set up to be condo ready.
>> 12 residential units complete with several renters, and two storefronts currently being leased; provides cash flow during completion of the rest of the project.
>> Intersection is near grocer, public transportation, and other every day needs retailers making these apartments easy to rent!
>> Financials are Broker Projected Pro Formas.
* Email for additional photos
Financials
Sales Info:
>> Cap rate: 12.9%
>> NOI: $264500
