Essex has been exclusively engaged to market the sale of 1300 W 57th St, a walkup 8-unit building in the West Englewood neighborhood in Chicago.
The subject property consists of eight (8) 1-bedroom / 1-bathroom apartments. The units themselves feature hardwood floors, updated kitchens and baths as well as individual furnaces and hot water heaters.
This property presents a value-add opportunity by renting out the garden-unit. This is an opportunity to acquire a stable, fully occupied building getting above market rents.
West Englewood is a neighborhood on the move and in the process of transition. Kennedy-King College, a City College of Chicago, opened an expansive 40-acre campus in 2007. The college is home to the Washburn Culinary Institute as well as WKKC radio. The neighborhood is accessed by popular train lines and bus routes extending across the city. Located just over 1.8 miles is the CTA Red Line, Garfield Station. This railway has been approved for a revamp and extension south. This extension will cost approximately $2.3 Billion and will connect an additional 5 miles from 98th street to 130th street.
- Recently Remodeled Units
- Stabilized Occupancy and Expenses; Financeable Property
- 60% Subsidized
- New Individual Furnaces (2020)
- Security System