3135 N Clifton Avenue
Chicago, IL 60657

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Description

3135 N. Clifton Ave., a multi-family apartment property ideally located in Chicago's highly desirable Lakeview neighborhood. The property, which consists of five (5) large apartments, sits on an extra-wide 36-foot lot, and has a unit mix of three (3) 3 Bd/2 Ba simplex apartments, one (1) 2 Bd/2.5 Ba Coach House, and one (1) 2 Bd/1 Ba Garden. The front building was extensively renovated, and the Coach House was newly constructed, both around the year 2000. Residences feature modern interior finishes, including hardwood flooring, updated kitchens and baths, dishwashers, and central heating and cooling. Building improvements include copper plumbing, updated electrical, and individual hot water tanks. Additional amenities include coin-operated laundry in the front building and in-unit laundry in the Coach House, private balconies, a three-car garage, and three exterior tandem parking spaces. Upside potential can be achieved through targeted unit upgrades and the addition of in-unit laundry in the four front units, driving higher rental revenue and strengthening tenant appeal. Nestled on a quiet tree-lined street, just south of Belmont Avenue, 3135 N. Clifton Ave. places residents in the heart of Lakeview-one of Chicago's premier neighborhoods. The property is surrounded by vibrant retail, fitness studios, salons, and dining along Sheffield and Southport Avenues, with the Belmont and Wellington CTA stations just blocks away. Lake Shore Drive, Diversey Harbor, and other recreational attractions are only a mile east, while Wrigley Field and the neighborhood's dynamic mix of restaurants, boutiques, and entertainment further enhance its unmatched appeal. In addition, the property is located within a highly regarded school district, allowing attendance to Harriet Tubman Elementary School and Lincoln Park High School. Property Owner is a licensed broker in Illinois.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60657
• Year Built: 1884
• Sq.Ft.: 7,975 sq ft
• Stories: 3
• Units: 5 units
• # Of Dishwashers: 4
• # Of Dryers: 2
• # Of Refrigs: 5
• # Of Washers: 2
• Approximate Age: Older
• Building Area Total: 7975
• Built Before 1978 (Y/N): Yes
• Cap Rate: 6.19
• Construction Materials: Stone
• Cooling: Central Individual
• Directions: from N Halsted St & W Belmont Ave, head West on W Belmont Ave and turn left onto Clifton Ave.
• Electric Expense: 881
• Electric Expense Source: Actual
• Fuel Expense: 1335
• Fuel Expense Source: Actual
• Gross Income: 220800
• Gross Rent Multiplier: 11.2
• Gross Scheduled Income: 214088
• Heat/Ventilation: Central Heat/Indiv Controls
• Indoor Parking: 1-5 Spaces
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 4902
• Insurance Expense Source: Actual
• Janitor Expense: 10704
• Main Type: Commercial Sale
• Maintenance Expense: 2500
• Operating Expense: 59379
• Other Expense: 2500
• Other Expense Source: Broker Projection
• Outdoor Parking: 1-5 Spaces
• Ownership Type: Individual
• Repairs-Decor Expense Source: Broker Projection
• Roof Structure: Flat
• Tax Annual Amount: 31911
• Tax Year: 2023
• Total Annual Expense Source: Combination
• Total Monthly Income: 18400
• Township: Lake View
• Trash Expense: 2419
• Trash Expense Source: Actual
• Type Multi-Family: Garden Complex
• Water Expense Source: Actual
• Water Sewer Expense: 2228