4948-58 W Dickens Ave - Apartments FOR SALE


Chicago, IL 60639- Cragin
$1,815,000 USD
708-466-2626
4948-58 W Dickens Ave, Chicago, IL for Sale
$1,815,000 USD
Apartments - FOR SALE
1/17
null | 6.23% Cap Rate

4948-58 W Dickens Ave
Chicago, IL 60639
Cragin


HIGHLIGHTS

  • Large 11-Unit Property on a Double-Wide Lot
  • Ideal Mix of 3 Bed, 2 Bed, and 1 Bed Apartments
  • Attractive Assumable Debt Option: 4.38% Fixed Until 2032
  • Substantial Rental Upside in Existing Condition
  • Private Surface Parking Lot with 5 Spots

OVERVIEW

Essex Realty Group, LLC has been exclusively engaged to market for sale 4948-58 W. Dickens Ave., a well-cared-for 11-unit apartment property featuring a large corner brick building, a recently paved private parking lot, and a coach house. The Subject Property is comprised of four (4) 3 Bed/1 Bath, five (5) 2 Bed/1 Bath, and two (2) 1 Bed/1 Bath units. Unit finishes feature hardwood floors, a mix of granite and laminate countertops, stainless steel or white appliances, individually furnaced heat and window air conditioning. The property also features a common laundry room and a five (5) car private parking lot. The ideal unit mix offers meaningful rental upside in its current condition. The Belmont Cragin submarket has experienced substantial rent growth, particularly over the past five years, as the neighborhood has broadened its tenant appeal. Demand has increasingly been driven by a younger renter demographic priced out of nearby neighborhoods, alongside the long-standing working-class residents who have historically defined the community. As outlined in the rent comparables included in the offering, similar units have recently achieved rents up to approximately 15% above the subject property’s current rent levels. ASSUMABLE DEBT AVAILABLE AT 4.38% MATURING 8/1/2032 Freddie Mac SBL loan serviced by Key Bank Contact your Essex Broker for more information

FOR SALE DETAILS

PRICE

$1,815,000 USD

PRICE/SF

$176 USD /SF

# OF UNITS

11

PRICE/UNIT

$165,000

CAP RATE

6.23%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1921

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,312 SF

ZONING

RS-3

APN/PARCEL ID

13-33-219-017-0000

ASK ABOUT THIS PROPERTY

Brian KeeganEssex Realty Group, LLCMore Info
708-466-2626

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Brian KeeganEssex Realty Group, LLCMore Info
708-466-2626

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