916-918 W Diversey Pky - Apartments FOR SALE


Chicago, IL 60614- Lakeview
$5,200,000 USD
312-610-1703
916-918 W Diversey Pky, Chicago, IL for Sale
$5,200,000 USD
Apartments - FOR SALE
1/9
null | 6.7% Cap Rate

916-918 W Diversey Pky
Chicago, IL 60614
Lakeview


HIGHLIGHTS

  • Professional offering memorandum available upon request
  • Highly desirable Lake View location situated on an arterial street
  • Located steps from the Diversey Brown Line CTA
  • Strong historic demand with the asset being currently 100% occupied
  • Both commercial units are leased

OVERVIEW

Nara Advisors is pleased to present 916 West Diversey Parkway, a well-positioned 24-unit mixed-use opportunity. Located in Chicago's highly desirable Lake View neighborhood, the property provides a stabilized asset with significant operational upside. The building features a compelling mix of studio, one-bedroom, and two ground- floor commercial units. With a current lean expense ratio of 39%, the ability to mark all units to market presents a clear path to increase cash flow. The asset represents a compelling mix of attractive day-one metrics and clear value-add potential in a premier Chicago location.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$426 USD /SF

# OF UNITS

24

PRICE/UNIT

$216,667

CAP RATE

6.7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1921

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

B3-2, Chicago

APN/PARCEL ID

14-29-229-017-0000

ASK ABOUT THIS PROPERTY

Michael AnguianoNara AdvisorsMore Info
312-610-1703

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Michael AnguianoNara AdvisorsMore Info
312-610-1703

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