7349 N Damen Ave - Multi-Family FOR SALE


Chicago, IL 60645- Rogers Park
$3,500,000 USD
773-293-5015
7349 N Damen Ave, Chicago, IL for Sale
$3,500,000 USD
Multi-Family - FOR SALE
1/9
null | 7.12% Cap Rate

7349 N Damen Ave
Chicago, IL 60645
Rogers Park


HIGHLIGHTS

  • Well Maintained Vintage Courtyard
  • (20) 2bd/1ba & (6) 1bd/1ba with Spacious Layouts
  • Stabilized 7.59% Cap Rate Post Master Lease
  • Rare Opportunity to Acquire a Vacant-Ready Building on Chicago’s North Side
  • PROPERTY IS SUBJECT TO RIGHT OF FIRST REFUSAL AND ANY OFFER SUBMITTED WILL BE SUBJECT TO THE EXERCISE OF THAT RIGHT

OVERVIEW

Kiser Group has been exclusively engaged to market 7349-55 N. Damen Avenue, a 26-unit multifamily building located in Chicago’s desirable Rogers Park neighborhood. The property features a mix of spacious one-bedroom/one-bath and two bedroom/one-bath units, currently operated as a half-way house on a master lease till December 31st 2025. A new owner has the opportunity to reposition the asset by converting it to traditional multifamily use, unlocking significant value through cosmetic renovations to kitchens, bathrooms, and common areas. Additionally, current rents are well below market due to the property’s existing use, offering immediate upside through modern upgrades, improved leasing strategies, and professional management. This rare value-add opportunity allows an investor to capitalize on strong rental demand in a dynamic North Side location, while enhancing income through thoughtful improvements and repositioning.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$130 USD /SF

# OF UNITS

26

PRICE/UNIT

$134,615

CAP RATE

7.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

11-30-408-005-0000

ASK ABOUT THIS PROPERTY

Danny LogarakisKiser GroupMore Info
773-293-5015

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Danny LogarakisKiser GroupMore Info
773-293-5015

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