1437 W Superior Street
Chicago, IL 60642

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Description

1437 W Superior is a fantastic opportunity to acquire fully renovated 6 unit multi-family building in Chicago's West Town neighborhood. The property is ideally located just east of Ashland and tucked into the neighborhood just south of Chicago Ave. Its close to the highway, and easy walking distance to the commercial corridor along Chicago Ave. The existing building has under gone a significant renovation that include: Renovation of all kitchens with quartz counter tops and stainless steel appliance packages, all new bathrooms, gas forced air heat and central air conditioning, in-unit washer/dryer, newer windows, and hardwood flooring. The top floor units have been nicely duplexed up. The building has a new front porch as well as a nice two car garage with potential to add a roof deck for added amenity space. 1437 W Superior presents an investor with a unique opportunity to acquire a cash flowing asset in an excellent Chicago neighborhood with long term value and future appreciation.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60642
• Year Built: 1888
• Stories: 3
• Units: 6 units
• Zoning: MULTI
• # Of Dishwashers: 6
• # Of Dryers: 6
• # Of Ranges: 6
• # Of Refrigs: 6
• # Of Washers: 6
• Approximate Age: New Rehab
• Built Before 1978 (Y/N): Yes
• Cap Rate: 6.13
• Construction Materials: Brick
• Cooling: Central Air
• Directions: W on Huron, N on Superior two blocks, building is on SE corner
• Electric: Separate Meters
• Electric Expense: 470
• Electric Expense Source: Actual
• Expense Year: 2024
• Fuel Expense: 1190
• Fuel Expense Source: Actual
• Gross Income: 161646
• Gross Rent Multiplier: 12.5
• Gross Scheduled Income: 161646
• Heat/Ventilation: Central Heat/Indiv Controls
• Indoor Parking: 1-5 Spaces, Detached
• Information: List Broker Must Accompany, 48-Hr Notice Required, No Sign on Property
• Insurance Expense: 3706
• Insurance Expense Source: Actual
• Janitor Expense: 1000
• Lot Size Square Feet: 3125
• Main Type: Commercial Sale
• Maintenance Expense: 3000
• Manager Expense: 6326
• Manager Expense Source: AC
• Operating Expense: 39062
• Other Expense: 2360
• Other Expense Source: Broker Projection
• Repairs-Decor Expense Source: Actual
• Roof: Composition
• Roof Structure: Pitched
• Tax Annual Amount: 16706
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Broker Projection
• Total Monthly Income: 13470
• Township: West Chicago
• Trash Expense: 3000
• Trash Expense Source: Broker Projection
• Type Multi-Family: Corridor-Interior Entrance
• Water Expense Source: Actual
• Water Sewer Expense: 1304