2442 N Ashland Ave - Multi-Family FOR SALE


Chicago, IL 60614- DePaul
$1,300,000 USD
847-863-2707
2442 N Ashland Ave, Chicago, IL for Sale
$1,300,000 USD
Multi-Family - FOR SALE
1/10
null | 6.06% Cap Rate

2442 N Ashland Ave
Chicago, IL 60614
DePaul


HIGHLIGHTS

  • This is your opportunity to assume a 2.25% fully amortizing loan on a prime Lincoln Park
  • The unfinished attic has an approximately eleven foot peak height and may offer additional expansion potential, subject to feasibility
  • Current rents provide room for upside, or modernize the units to boost returns further.

OVERVIEW

No need to wait for interest rates to come down. This is your opportunity to assume a 2.25% fully amortizing loan on a prime Lincoln Park four-unit property consisting of a three unit front building and a coach house in the rear. Current rents provide room for upside, or modernize the units to boost returns further. The unfinished attic has an approximately eleven-foot peak height and may offer additional expansion potential, subject to feasibility. Buyers are encouraged to consult with an architect to explore the possibilities. Secure long-term financing well below current market rates while positioning yourself for appreciation and stronger future cash flow in one of Chicago’s most desirable rental markets. There is no onsite parking due to the coach house in the rear; however, the property benefits from very easy and readily available unzoned street parking throughout the surrounding neighborhood.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

4

PRICE/UNIT

$325,000

CAP RATE

6.06%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

ASSUMABLE 2.25% FINANCING IN PRIME LINCOLN PA

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1914

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

C1-2

APN/PARCEL ID

14-30-410-022-0000

ASK ABOUT THIS PROPERTY

Steven RapoportChicago Real Estate ResourcesMore Info
847-863-2707

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Steven RapoportChicago Real Estate ResourcesMore Info
847-863-2707

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