ON MARKET – MULTI-FAMILY
4450-4452 N. Ashland Ave. Chicago, IL 60640
NEIGHBORHOOD
Ravenswood
PRICE
$2,999,000
NUMBER OF UNITS
16
CAP RATE
5.35%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 4450-4452 N. Ashland Ave., a sixteen (16) unit apartment building. The property is located in the Ravenswood neighborhood of Chicago, Illinois.

4450-4452 N. Ashland Ave. is comprised of three (3) studios, seven (7) 1Bd/1Ba units, four (4) 2Bd/1Ba units, and two (2) 3Bd/2Ba units. Units are predominantly equipped with stainless steel appliances, hardwood floors, laminate countertops, and dishwashers. A new investor has the opportunity to improve the property by modernizing common areas and making modest cosmetic updates to unit interiors. Additional income is generated through four (4) garage parking spaces. Investors also have the option to begin charging for laundry, internet, and heat which are all currently included in rent.

4450-4452 N. Ashland Ave. is conveniently located less than one-half mile from the Montrose CTA Brown Line and Ravenswood Metra Station, providing tenants with easy access throughout Chicago. In addition, neighborhood residents enjoy a variety of bar and restaurant options, boutiques, and parks.

LOCATION DETAILS

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HIGHLIGHTS
  • Sixteen (16) unit apartment building including rear one unit coach house.
  • Unit Mix: (1) Studio-S, (2) Studio-L, (6) 1Bd/1Ba, (1) 1Bd/1Ba-CH. (3) 2Bd/1Ba, (1) 2Bd/1Ba-PH, (2) 3Bd/2Ba.
  • Additional income is generated through four (4) garage parking spaces.
  • Value-add opportunity to modernize common areas and make modest cosmetic updates to unit interiors.
  • Recent updates include 800 AMP electric service, copper plumbing, and a newer boiler.
  • Select units equipped with individual furnaces.
LISTING BROKERS
Kate Varde
Principal
773.305.4908
Jaimie Steinher
Director
773.305.4916