3348-3354 W Wilson Ave - Apartments FOR SALE


Chicago, IL 60625- Albany Park
$7,400,000 USD
847-989-3017
3348-3354 W Wilson Ave, Chicago, IL for Sale
$7,400,000 USD
Apartments - FOR SALE
1/19
null | Request Cap Rate

3348-3354 W Wilson Ave
Chicago, IL 60625
Albany Park


HIGHLIGHTS

  • Fully Renovated 33 Unit Courtyard Building
  • Assumable Debt Available at 3.19% Through 2032; Interest Only Through 2030
  • Renovation Included All New Mechanical Systems + Laundry in Each Unit
  • 22 of 33 Units Are Two Bedroom/Two Bath Apartments
  • One Block to CTA Brown Line Station

OVERVIEW

Essex Realty Group, LLC has been exclusively engaged to market Wilson Manor, a 33-unit multifamily property located at 3348 W. Wilson Ave. in Chicago’s Albany Park neighborhood. Gut-renovated in 2008, Wilson Manor retains a long-term tenant base and offers fully updated interiors, including granite countertops, hardwood floors, central heating and air conditioning, in-unit laundry, and spacious floor plans throughout. The well-maintained property features a highly desirable unit mix, primarily consisting of 2-bedroom apartments, along with several larger 3- and 4-bedroom duplex units. Building improvements include copper plumbing, new electrical service, and wiring. LONG-TERM ASSUMABLE DEBT AVAILABLE @ 3.19% A significant component of the investment is the attractive assumable financing in place through KeyBank/Fannie Mae. The loan carries a below-market fixed interest rate of 3.19% with a remaining term through December 2032, including an interest-only period through December 2030. This structure provides investors with strong in-place cash flow, with principal and interest payments commencing in January 2031. Located one block from the Kimball CTA Brown Line, Wilson Manor offers excellent access to public transportation and connectivity throughout Chicago. Situated in Albany Park, a diverse and high-demand rental neighborhood, the property benefits from strong fundamentals and ongoing investment in the area. Wilson Manor presents investors with a fully renovated, transit-oriented asset featuring stable income, rental upside, and attractive assumable debt.

FOR SALE DETAILS

PRICE

$7,400,000 USD

PRICE/SF

$232 USD /SF

# OF UNITS

32

PRICE/UNIT

$231,250

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Maynard at 3348 West Wilson

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1933

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

RS-3, Chicago

APN/PARCEL ID

13-14-211-020-0000

ASK ABOUT THIS PROPERTY

Jordan GottliebEssex Realty Group, LLCMore Info
847-989-3017

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Jordan GottliebEssex Realty Group, LLCMore Info
847-989-3017

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