7319 N Rogers Ave - Apartments FOR SALE


Chicago, IL 60626- Rogers Park
$2,800,000 USD
847-691-7800
7319 N Rogers Ave, Chicago, IL for Sale
$2,800,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

7319 N Rogers Ave
Chicago, IL 60626
Rogers Park


OVERVIEW

7319 N. Rogers Ave. is a 16-unit walk-up apartment building located in Chicago's Rogers Park neighborhood. The Property consists of sixteen one-bedroom/one-bathroom apartments, all but one of which have been rehabbed since 2018 and include new floors, quartz countertops, subway tile backsplashes, new cabinetry, stainless steel appliances, and new bathrooms. The property generates additional income through on-site coin-operated laundry and garage parking. Of the 12 total garage spaces, 10 are currently income-producing, with one occupied by a dumpster and one reserved for building management. Converting these two spaces to rentable parking presents a straightforward value-add opportunity. A new owner may choose to rehab the one remaining unrenovated first-floor unit and increase rent by $685 per month as proven by a similar unit in the building. Thus, one could potentially add $7,190 in net operating income, or $109,000 in value to the property (at a 6.6% cap rate). 7319 N. Rogers Ave. benefits from an exceptional transit-oriented location, with Howard Station (Red/Purple/Yellow Lines) approximately a 10-minute walk and the Rogers Park Metra station (UP-North Line) approximately a 9-minute walk, offering express service to the Loop in 15–23 minutes. The property is also within close proximity to the Clark Street retail corridor, Loyola University Chicago, Touhy Park, and the Lake Michigan shoreline, amenities that consistently drive strong rental demand in the neighborhood.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$170 USD /SF

# OF UNITS

16

PRICE/UNIT

$175,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chase on the Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1968

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,129 SF

ZONING

-

APN/PARCEL ID

11-30-417-003-0000

ASK ABOUT THIS PROPERTY

Rick OfmanEssex Realty Group, LLCMore Info
847-691-7800

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Rick OfmanEssex Realty Group, LLCMore Info
847-691-7800

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