1508-1512 W Farwell Avenue
Chicago, IL 60626

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Description

COURT YARD BUILDING! 22-Unit Apartment Building with 22 Parking Spaces - Prime Rogers Park Location. Exceptional investment opportunity in the heart of Rogers Park! This solid brick 22-unit multi-family building includes a rare 22 adjacent parking spaces, all included in the sale. The property has been remodeled with updated kitchens and bathrooms, offering strong rental appeal and low maintenance moving forward. Unit mix includes 2-bedroom, 1-bedroom, and studio apartments, providing versatility and broad tenant demand. CONDO-READY! Additional highlights: On-site laundry for added income Walking distance to the Red Line train Strong rental location with historically low vacancy Adjacent parking lot included Drone footage available in virtual tour Prime transit-oriented location makes this a highly desirable rental property with stable income potential.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60626
• Year Built: 1963
• Stories: 5
• Units: 22 units
• Zoning: MULTI
• Additional Parcels: Yes
• Additional Parcels Description: 11321150180000
• Approximate Age: New Rehab
• Built Before 1978 (Y/N): Yes
• Cap Rate: 5.4
• Construction Materials: Brick
• Directions: ashland north of pratt to Farwell, east to building
• Electric Expense: 3368
• Electric Expense Source: Actual
• Expense Year: 2025
• Foundation Details: Concrete Perimeter
• Fuel Expense: 24575
• Fuel Expense Source: Actual
• Gross Income: 433480
• Gross Rent Multiplier: 13.4
• Gross Scheduled Income: 483580
• Heat/Ventilation: Central Bldg Heat
• Information: List Broker Must Accompany, 48-Hr Notice Required, No Sign on Property
• Insurance Expense: 15093
• Insurance Expense Source: Actual
• Janitor Expense: 3000
• Known Encumbrances: None Known
• Land Amenities: Curbs and Gutters, Sidewalks
• Location: Free Standing/Urban
• Lot Size Source: County Records
• Lot Size Square Feet: 17200
• Main Type: Commercial Sale
• Maintenance Expense: 1200
• Operating Expense: 128148
• Other Expense: 1000
• Other Expense Source: Actual
• Outdoor Parking: 19-30 Spaces
• Ownership Type: Individual
• Repairs-Decor Expense Source: Owner Projection
• Tax Annual Amount: 51894.64
• Tax Year: 2024
• Total Annual Expense Source: Actual
• Total Monthly Income: 50100
• Township: Rogers Park
• Trash Expense: 6755
• Trash Expense Source: Actual
• Type Multi-Family: Flats
• Virtual Tour Date: 2026-01-20T19:01:15
• Water Expense Source: Actual
• Water Sewer Expense: 21106