ON MARKET – MULTI-FAMILY
3055 W. Eastwood Ave. Chicago, IL 60625
NEIGHBORHOOD
Albany Park
PRICE
$2,130,000
NUMBER OF UNITS
13
CAP RATE
5.52%
PROPERTY LISTED

Essex Realty Group, Inc. is exclusively engaged to market for sale 3055 W. Eastwood Ave., a thirteen-unit, walk-up building located in a phenomenal pocket of East Albany park.

The subject property is comprised of seven (7) one-bedroom and six (6) two-bedroom / one-bath apartments. The apartment features large floorplans, including formal dining rooms, family rooms, and enclosed sunrooms. Hardwood flooring can be found throughout, and most kitchens and bathrooms have received moderate updates over the years. Additional capital improvements include the electric service, tuckpointing, and rear porches.

The property sits only two blocks from the CTA Brown Line Station and Ravenswood Manor Park, which is a considerable amenity for tenants. There is also a communal patio area at the rear of the property.

Although most investors would already find the upside in the current rents, a savvy investor can significantly increase the cash flow by modernizing the kitchens and baths and adding laundry to the apartments.

This is a rare opportunity for an investor to acquire an exceptionally well-maintained property with tremendous upside in an exceptional pocket of East Albany Park.

LOCATION DETAILS

The subject property is located in Albany Park, a Chicago North-Side neighborhood. Albany Park is one of the seventy-seven well-defined community areas in Chicago and is situated approximately eight miles from downtown Chicago’s Business District. The property sits on a quiet tree-lined street surrounded by two-flats, three-flats, and single-family homes. The immediate area surrounding the subject property is low-density and primarily residential with restaurants just minutes away.

3055 W. Eastwood Ave. is only blocks away from many retailers and restaurants along Kedzie Ave. Residents are within walking distance from both Kedzie and Francisco brown line stops. Additionally, the subject property is situated adjacent to a sub-neighborhood of Albany Park called North Park. North Park has become an increasingly popular destination for families and young professionals to reside.

HIGHLIGHTS
  • Premier Location in East Albany Park
  • 13-Unit Walk-up Building
  • One and Two-Bedroom Apartments
  • Exceptionally Well-Maintained Asset
  • 3.35% Assumable Mortgage
  • 2 Blocks Away From the Francisco Brown Line Station
  • Tremendous Upside opportunity
LISTING BROKERS
Steven Livaditis
Principal
773.305.4840
Jacob Goldstein
Director
773.305.4896
Jordan Pessah
Associate
773.305.4900