Essex Realty Group, Inc. has been exclusively engaged to market for sale 2014-2022 N Howe Street, (2) 6 unit center entrance apartment buildings located in Chicago’s Lincoln Park neighborhood. The property is currently comprised of (9) 3Bd/1Ba apartments, (2) 2Bd/1Ba apartments, and (1) 1Bd/1Ba apartment.
2014-2022 N Howe provides an investor with the opportunity to acquire a well-maintained building in the coveted neighborhood of Lincoln Park. As the enclosed rent comparables demonstrate, a new owner should be able to raise rents approximately 15%-20% with little-to-no-work.
The property is ideally in the heat of Lincoln Park, one of the most desirable neighborhoods on the north side of Chicago. The property is a mere 400ft from Oz Park, a 13 acre park in the heart of Chicago that features walking and bike trails. Additionally, the Lincoln Park Zoo is just a half mile to the east, with the lakefront just beyond the zoo. The property is also within close proximity to public transportation. The Armitage Brown & Purple Line station is .4 miles west, and there is also a CTA bus stop and Divy bike station within 2 blocks as well.
- 18 Tours, 8 Offers
- Purchase Price 110% of List Price
- Cap Rate: 3.9%; GRM: 15.6
- Rarely Available Lincoln Park Rental Property
- Significant Value-Add Potential via Rehab and Duplexing