4,320 sq ft;
lot: 0.68 acres
Commercial: Multi Family 5+ - MLS# 12487278
Tools & Resources:
Description
This is a great opportunity for a value add 6-unit brick building in Pilsen, ready for its next owner. It's a solid property that just needs some fixing up to reach its full potential. You'll find a good mix of units, including two 1-bed/1-bath apartments, three 2-bed/1-bath units, and a large 4-bed/2-bath duplex with its own laundry. The important updates are already done, with a roof less than 2 years old and some new heating and mechanicals. The property also offers shared laundry and a valuable two-car garage. With some work, this property is positioned to compete with the top-tier sales in Pilsen. Once updated and fully rented, the stabilized financials project a high capitalization rate for investors.
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active Under Contract
- County/Area: Cook County
- Zip Code: 60608
- Year Built: 1883
- Sq.Ft.: 4,320 sq ft
- Stories: 3
- Units: 6 units
- Basement: Finished
- Lot Size: 0.68 acres
- Zoning: MULTI
- # Of Dryers: 1
- # Of Ranges: 7
- # Of Refrigs: 5
- # Of Washers: 1
- Approximate Age: Older
- Building Area Total: 4320
- Building Unit Info: Smoke/Alarm Detector
- Built Before 1978 (Y/N): Yes
- Construction Materials: Brick
- Cooling: Central Air, Window Unit(s)
- Directions: East Cermak Rd Left on Throop East to 18th PL
- Electric: Circuit Breakers, Separate Meters
- Electric Expense: 1200
- Electric Expense Source: Owner Projection
- Expense Year: 2025
- Fire Protection: Fire Extinguisher/s, Carbon Monoxide Detector(s)
- Foundation Details: Brick/Mortar
- Gross Income: 34000
- Gross Rent Multiplier: 3
- Gross Scheduled Income: 800
- Heat/Ventilation: Forced Air, Wall Unit, Separate Per Unit
- Information: 24-Hr Notice Required
- Insurance Expense: 26000
- Insurance Expense Source: Owner Projection
- Lot Size Square Feet: 2976
- Main Type: Commercial Sale
- Manager Expense Source: OP
- Misc Outside: Courtyard
- Operating Expense: 32000
- Other Expense Source: Owner Projection
- Repairs-Decor Expense Source: Owner Projection
- Roof Structure: Flat
- Tax Annual Amount: 12592
- Tax Year: 2023
- Tenant Pays: Electricity, Heat
- Total Annual Expense Source: Owner Projection
- Total Monthly Income: 2825
- Township: West Chicago
- Trash Expense Source: Owner Projection
- Type Multi-Family: Flats
- Water Expense Source: Owner Projection
- Water Sewer Expense: 4800
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