4,500 sq ft
Commercial: Multi Family 5+ - MLS# 12601366
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Description
Turnkey, fully renovated 5-unit apartment building in the heart of Wicker Park - one of Chicago's most sought-after neighborhoods. Gut rehabbed in 2021 with high-end finishes throughout, this 7 bed / 6 bath building is a rare, low-maintenance investment opportunity ready to perform from day one. The building consists of the following: 1 bed/1 baths (2), 1 bed/1 bath plus den (1), 2 bed/1 bath (1), and a tri-level 2 bed/2 bath with bonus storage (1). Each unit features in-unit laundry, new appliances (dishwasher, oven/range, refrigerator), custom cabinetry, custom closets, grey wood finish floors, designer lighting, and smart home amenities including a Ring doorbell and Nest thermostat. Units boast generous storage, and the building offers additional storage in the attic. All units are individually metered for utilities, keeping operating costs lean and management simple. The units themselves get plenty of sun in the front and thoughtfully laid out - several feature a flexible office nook or secondary bedroom, beautiful barn doors, and pantry storage that sets them apart from typical rental stock. The location is unmatched. Steps from the Division Blue Line, Division Street's bar and restaurant corridor, Jewel, Target, a Divvy station, and a neighborhood community garden - tenants have everything they need within a 5-minute walk. This building offers investors a truly low-overhead, high-demand asset in a neighborhood that consistently commands strong rents and minimal vacancy.
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60622
- Year Built: 1890
- Sq.Ft.: 4,500 sq ft
- Stories: 2
- Units: 5 units
- Basement: Finished
- # Of Dishwashers: 5
- # Of Disposals: 5
- # Of Dryers: 5
- # Of Ranges: 5
- # Of Refrigs: 5
- # Of Washers: 5
- Approximate Age: Older
- Building Area Total: 4500
- Built Before 1978 (Y/N): Yes
- Cap Rate: 6
- Construction Materials: Brick
- Cooling: Central Air
- Directions: West on Division, North on Wood, East on Potomac
- Electric: Circuit Breakers, Separate Meters
- Electric Expense: 765
- Electric Expense Source: Actual
- Expense Year: 2025
- Gross Income: 155100
- Gross Rent Multiplier: 11.1
- Gross Scheduled Income: 157392
- Heat/Ventilation: Forced Air
- Insurance Expense: 4854
- Insurance Expense Source: Actual
- Lot Size Source: Survey
- Lot Size Square Feet: 2300
- Main Type: Commercial Sale
- Maintenance Expense: 2000
- Manager Expense: 7750
- Manager Expense Source: BP
- Operating Expense: 53960
- Other Expense: 2282
- Other Expense Source: Actual
- Repairs-Decor Expense Source: Broker Projection
- Roof Structure: Pitched
- Tax Annual Amount: 30608
- Tax Year: 2024
- Tenant Pays: Air Conditioning, Electricity, Heat
- Total Annual Expense Source: Combination
- Total Monthly Income: 12925
- Township: West Chicago
- Trash Expense Source: Actual
- Type Multi-Family: Corridor-Exterior Entrance, Corridor-Interior Entrance
- Washer/Dryer Lsd (Y/N): Yes
- Water Expense Source: Actual
- Water Sewer Expense: 5682
- Water Source: Municipal Water
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