7538 W Lawrence Ave - Apartments FOR SALE


Harwood Heights, IL 60706
$2,925,000 USD
224-305-4102
7538 W Lawrence Ave, Harwood Heights, IL for Sale
$2,925,000 USD
Apartments - FOR SALE
1/17
null | Request Cap Rate

7538 W Lawrence Ave
Harwood Heights, IL 60706


HIGHLIGHTS

  • Turnkey investment offering immediate cash flow
  • Fully renovated 12-unit building with a complete gut rehab completed in 2023
  • Desirable unit mix consisting of four (4) 1 bed / 1 bath units and eight (8) 2 bed / 1 bath units
  • Quiet corner in Harwood Heights, just outside Chicago city limits, with walkable access to Harlem Irving Plaza and popular retailers

OVERVIEW

Essex Realty Group, Inc. has been exclusively engaged to market for sale 7538 W Lawrence Avenue, a fully renovated 12-unit apartment building located in Harwood Heights. The offering presents an outstanding opportunity to acquire a turnkey multifamily asset in a quiet, highly sought-after residential neighborhood just outside the City of Chicago. The Subject Property underwent a comprehensive renovation completed in 2023. All twelve (12) units were taken down to the studs and rebuilt with modern finishes. Renovations include new kitchens with contemporary cabinets, quartz countertops, stainless steel appliances, new bathrooms with updated vanities and tile, new luxury vinyl flooring throughout, custom millwork, and new window treatments. In addition, a common laundry room was added for resident convenience. The unit mix consists of four (4) one-bedroom/one-bathroom apartments and eight (8) two-bedroom/one-bathroom apartments. 7538 W. Lawrence is located on a quiet corner in Harwood Heights, a few blocks from the intersection of Harlem Avenue and Lawrence Avenue. This location offers walkable access to numerous national retailers and shopping centers, including Harlem Irving Plaza, Holiday Plaza, Norridge Commons, Starbucks, Lou Malnati’s, and Portillo’s. The property also benefits from its proximity to the City of Chicago, offering a highly desirable blend of suburban charm and urban convenience. **Can be purchased as a portfolio with 4747 N Ronald St (12-Units) & 7005 W Gunnison St (12-Units).**

FOR SALE DETAILS

PRICE

$2,925,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

12

PRICE/UNIT

$243,750

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

12

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

12-12-424-073-0000

ASK ABOUT THIS PROPERTY

Matt FeoEssex Realty Group, LLCMore Info
224-305-4102

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Matt FeoEssex Realty Group, LLCMore Info
224-305-4102

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