1840-1854 S Fairfield Ave - Apartments FOR SALE


Chicago, IL 60608- Lawndale
$4,000,000 USD
773-293-5060
1840-1854 S Fairfield Ave, Chicago, IL for Sale
$4,000,000 USD
Apartments - FOR SALE
1/9
null | 7.05% Cap Rate

1840-1854 S Fairfield Ave
Chicago, IL 60608
Lawndale


HIGHLIGHTS

  • Immediate Scale in Douglass Park - 26 Units
  • Fully Renovated and Stabilized - 2025
  • Individual Water Tanks, Furnaces & AC Units
  • (1) Block East of Douglass Park & (2) Blocks North of California Pink Line
  • On Site Laundry Facility & Twenty (20) Designated Parking Spots

OVERVIEW

Kiser Group is pleased to exclusively present for purchase, the Fairfield Collection, a four (4) building, 26-unit collection, just east of the beautiful Douglass Park. The properties sit on a massive corner lot, conveniently located just blocks away from the CTA California Pink Line station, Lagunitas Brewery, and Cinespace Chicago Studios. The Fairfield Collection has undergone extensive renovations under current ownership. Recent upgrades and improvements to the properties include but not limited to: individual furnaces, individual water tanks, individual AC units, updated electric, copper plumbing, modern kitchens and baths. The property also features and on-site laundry facility and twenty (20) designated parking spots generating additional income. The Fairfield Collection presents a new investor the rare opportunity to obtain a fully renovated, cash flowing asset in one of Chicago's most rapidly appreciating markets. From day one a new investor will realize an in place cap rate of 7.1%, with future potential to realize returns near 9% and an 8.0% cap rate.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$148 USD /SF

# OF UNITS

26

PRICE/UNIT

$153,846

CAP RATE

7.05%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1961

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,331 SF

ZONING

R4, Chicago

APN/PARCEL ID

16-24-407-034-0000,16-24-407-035-0000,16-24-407-036-0000,16-24-407-037-0000,16-24-407-038-0000,16-24-407-047-0000

ASK ABOUT THIS PROPERTY

Noah ClarkKiser GroupMore Info
773-293-5060

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Noah ClarkKiser GroupMore Info
773-293-5060

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