6308-10 North Artesian Avenue Ave - Multi-Family FOR SALE


Chicago, IL 60659- West Rogers Park
$1,750,000 USD
773-293-5015
6308-10 North Artesian Avenue Ave, Chicago, IL for Sale
$1,750,000 USD
Multi-Family - FOR SALE
1/8
null | 4.12% Cap Rate

6308-10 North Artesian Avenue Ave
Chicago, IL 60659
West Rogers Park


HIGHLIGHTS

  • Long-Term Ownership
  • Significant Value-Add Potential
  • Large Units with Separate Dining Rooms
  • Current Rents are 30% Below Market

OVERVIEW

Kiser Group has been exclusively engaged to market 6308-10 N. Artesian Avenue, a 14-unit walk-up apartment building located in Chicago’s West Ridge neighborhood. The property includes 13 legal units and 1 non-conforming garden unit, presenting a compelling value-add opportunity in a strong North Side rental market. The building has been under the same ownership for over 20 years and has been well-maintained throughout that time. Recent capital improvements include a new hot water heater, roof layer replacement (2023), and recent tuckpointing. The unit mix consists of (10) 1bd/1ba, (3) 2bd/1ba, and (1) studio, all featuring spacious layouts. A new owner has the opportunity to unlock significant value through cosmetic renovations to kitchens, bathrooms, and common areas, as well as converting the all one-bedroom units with separate dining rooms into functional two-bedroom layouts. Additionally, current rents are well below market due to long-term tenancy, offering immediate upside through modern upgrades and improved leasing strategies.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$167 USD /SF

# OF UNITS

14

PRICE/UNIT

$125,000

CAP RATE

4.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6308-10 North Artesian

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,233 SF

ZONING

RT-4

APN/PARCEL ID

13-01-206-030-0000

ASK ABOUT THIS PROPERTY

Danny LogarakisKiser GroupMore Info
773-293-5015

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

Danny LogarakisKiser GroupMore Info
773-293-5015

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