223-233 N kolmar Avenue
Chicago, IL 60624

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Description

Discover an exceptional investment opportunity with this fully occupied 7-unit brick building that delivers immediate income potential. This well-maintained property features individual in unit furnaces and NEW separate water heaters, ensuring tenant comfort while minimizing owner expenses. The building showcases thoughtful updates throughout, including modernized kitchens and bathrooms, as well as NEW copper plumbing that stands the test of time. Recent improvements include professional roof maintenance with silver coating and newer back porch that enhance both energy efficiency and curb appeal. The property features spacious two-bedroom, one-bathroom units with generous living areas and large bedrooms that tenants love. The solid brick construction provides durability and timeless appeal while maintaining excellent occupancy rates. This turnkey investment requires no immediate property improvements, making it perfect for investors seeking steady cash flow from day one. The building's proven track record of high occupancy rates and premium rents speaks to its desirable location and quality management potential.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60624
• Year Built: 1927
• Stories: 3
• Units: 7 units
• Basement: Partially Finished
• Zoning: MULTI
• # Of Ranges: 7
• # Of Refrigs: 7
• Approximate Age: New Rehab
• Built Before 1978 (Y/N): Yes
• Cap Rate: 10
• Construction Materials: Brick
• Directions: Take Cicero to Maypole east to Kolmar South to Address
• Electric: Circuit Breakers
• Electric Expense: 960
• Expense Year: 2024
• Foundation Details: Concrete Perimeter
• Gross Income: 119400
• Gross Rent Multiplier: 6.9
• Gross Scheduled Income: 119400
• Heat/Ventilation: Forced Air
• Information: 24-Hr Notice Required, List Broker Must Accompany
• Insurance Expense: 16516
• Main Type: Commercial Sale
• Operating Expense: 34944
• Roof Structure: Flat
• Tax Annual Amount: 8468
• Tax Year: 2023
• Tenant Pays: Electricity, Heat, Hot Water
• Total Annual Expense Source: Actual
• Total Monthly Income: 9950
• Township: West Chicago
• Trash Expense: 1200
• Type Multi-Family: Flats
• Water Sewer Expense: 7800