1303 W Ohio St - Apartments FOR SALE


Chicago, IL 60642- West Town
$1,300,000 USD
773-593-5626
1303 W Ohio St, Chicago, IL for Sale
$1,300,000 USD
Apartments - FOR SALE
1/34
null | 6.28% Cap Rate

1303 W Ohio St
Chicago, IL 60642
West Town


HIGHLIGHTS

  • The roof was replaced about 5 years ago and the rear windows are newer.
  • This is a well-maintained 6-unit building in a thriving and energetic Chicago community!
  • There is ample room to increase income through rent increases given that the current rents are below market value.
  • Every unit has a dedicated in-unit washer-and-dryer in the common area and each unit has a forced air system.
  • The property is free of any City of Chicago violations.

OVERVIEW

This all brick, 6-unit building is an excellent West Town location! There are three front facing units and three rear facing units. One of the 6 units consists of a 1-bedroom, 1-bathroom unit. The remaining five units consist of 2-bedroom, 1-bathroom units. All units are on month-to-month leases and at below market rents; there is significant room for rent increases with a touch of cosmetic work. Investors can easily capture $2,000 per month per unit in rental income! Equally important, each unit is quaint and cozy with its open concept floor plan, exposed kitchen, very high ceilings and large windows that welcome natural sunlight all units. And the area is just exceptional, which translates into very strong rental demand and, hence, low vacancies. It is minutes to the Kennedy, Ogden International School of Chicago, Fulton Market, restaurants, transportation, parks and so much more! A must see! A 10!

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$276 USD /SF

# OF UNITS

6

PRICE/UNIT

$216,667

CAP RATE

6.28%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1892

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,038 SF

ZONING

RS-3

APN/PARCEL ID

17-08-125-011-0000

ASK ABOUT THIS PROPERTY

Peter DrossosPeter Drossos Real EstateMore Info
773-593-5626

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Peter DrossosPeter Drossos Real EstateMore Info
773-593-5626

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.