317 S Homan Ave - Apartments FOR SALE


Chicago, IL 60624- East Garfield Park
$1,500,000 USD
773-293-5086
317 S Homan Ave, Chicago, IL for Sale
$1,500,000 USD
Apartments - FOR SALE
1/8
null | 9% Cap Rate

317 S Homan Ave
Chicago, IL 60624
East Garfield Park


HIGHLIGHTS

  • Fully-Renovated Asset
  • New In-Unit Furnaces & Water Heaters
  • Copper Plumbing Throughout
  • Updated Electric Service (600A)
  • New Windows
  • New Porch and Roof

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase the sale of 317 S. Homan, a nine (9) unit center entranced walk-up located in Chicago’s historic East Garfield Park neighborhood. The property sit two (2) blocks east of Garfield Park & the renowned Garfield Park Conservatory. Furthermore, the property sits just two (2) blocks from the I-290 Express and CTA Blue Line station at Kedzie-Homan, providing tenants immediate access to Chicago's downtown. 317 S. Homan is currently comprised of three (3) 3Bd/2Ba units, three (3) 3Bd/1.5Ba units, two (2) 1Bd/1Ba units, and one (1) studio unit, all of which are extremely spacious, and were completely gut rehabbed in 2013. Furthermore, all of units have been fitted with updated kitchens, bathrooms, Recent capital improvements to the building consist of, but not limited to: a new electric service with in unit breaker boxes, in-unit and separate furnaces and hot water tanks, new windows, 100% copper plumbing, new tear off roof, and a new wood porch. Furthermore, there are (9) parking spots in the rear, which provide tenants an additional amenity. 317 S. Homan provides an investor with a unique opportunity to acquire a stabilized and strong cash flowing asset in Chicago’s desirable pocket of East Garfield Park. From day one, a new owner will capitalize on a strong tenant base, and will realize an in place cap rate of 9% and a cash-on-cash return exceeding 13%.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$153 USD /SF

# OF UNITS

9

PRICE/UNIT

$166,667

CAP RATE

9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1890

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

RM5

APN/PARCEL ID

16-14-219-008-0000

ASK ABOUT THIS PROPERTY

Jack PetrandoKiser GroupMore Info
773-293-5086

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Jack PetrandoKiser GroupMore Info
773-293-5086

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