1723 W Foster Ave - Multi-Family FOR SALE


Chicago, IL 60640- Ravenswood | 
$2,400,000 USD
773-934-8898
1723 W Foster Ave, Chicago, IL for Sale
$2,400,000 USD
Multi-Family - FOR SALE
1/30
null | 5.22% Cap Rate

1723 W Foster Ave
Chicago, IL 60640
Ravenswood


HIGHLIGHTS

  • Rare Andersonville/Lincoln Square Jumbo 6-Unit Investment Opportunity!
  • Exceptionally spacious, condo-quality units, extensive improvements!
  • Four oversized 2-bedroom, 1-bathroom units plus two expansive 3-bedroom, 2-bathroom duplexes!
  • 4 Car Garage!
  • All Units Feature HVAC!
  • A truly turn-key investment in one of Chicago's most sought-after neighborhoods!

OVERVIEW

Rare Andersonville/Lincoln Square Jumbo 6-Unit Investment Opportunity! Exceptionally spacious, condo-quality units, extensive improvements, and an outstanding location make this a truly special multi-family property. The building features four oversized 2-bedroom, 1-bathroom units plus two expansive 3-bedroom, 2-bathroom duplexes. All six units are fully rented, providing immediate income, while current rents offer an attractive opportunity for future upside. With many major improvements already completed, this is a turn-key investment ready for its next owner. These enormous units are filled with character and thoughtful details, including gorgeous crown molding, 6-inch baseboards, hardwood floors throughout, decorative fireplaces in the living rooms, and large separate dining rooms off the kitchens. Updated kitchens feature granite countertops, stainless steel appliances, and built-in hutches. All units feature central HVAC. The two duplex units offer in-unit side-by-side washers and dryers and large lower-level family rooms, providing exceptional additional living space. The four simplex units are served by convenient coin-operated laundry. The property has benefited from numerous improvements over the years, including a major update approximately 20 years ago and many additional updates within the past several years. Major capital improvements include a new tear-off roof approximately 2 years ago, rebuilt parapet walls, 400-amp electrical service, copper plumbing throughout, a 160-gallon high-efficiency water heater installed in 2014, and furnaces replaced approximately 5 years ago. The property also includes a 4-car brick garage with rebuilt trusses and a newer rubber roof. Ideally located between Andersonville and Ravenswood/Lincoln Square, the property is within easy walking distance of the vibrant Foster/Clark corridor, offering an outstanding selection of restaurants, cafes, shops, retail, and entertainment. Convenient access to public transportation and Lake Michigan further enhances this highly desirable location. A rare opportunity to acquire a jumbo 6-unit building with enormous, character-filled units, fully occupied apartments, below-market rents with potential for future growth, significant capital improvements, and a 4-car garage. A truly turn-key investment in one of Chicago's most sought-after neighborhoods.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$193 USD /SF

# OF UNITS

6

PRICE/UNIT

$400,000

CAP RATE

5.22%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1723 W. Foster Ave.

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1923

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,500 SF

ZONING

RS3

APN/PARCEL ID

14-07-403-007-0000

ASK ABOUT THIS PROPERTY

Peter FotopoulosBaird & WarnerMore Info
773-934-8898

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Peter FotopoulosBaird & WarnerMore Info
773-934-8898

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