ON MARKET – MULTI-FAMILY
5201 W. Schubert Ave. Chicago, IL 60639
NEIGHBORHOOD
Belmont Cragin
PRICE
$1,350,000
NUMBER OF UNITS
12
CAP RATE
5.98%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 5201 W. Schubert Ave. ("the Property") located in the heart of Chicago’s Belmont Cragin neighborhood. The Property consists of twelve (12) apartments comprised of six (6) one-bedroom, and six (6) two-bedroom units.

All twelve apartments have been updated over the past 10 years. These improvements include new drywall, new vinyl windows, and individual gas forced furnaces (all third floor units have A/C condensers). Additionally, a handful of units have brand new kitchens with espresso cabinet, white appliances and modern bathrooms.

Please Note: 5201 W. Schubert Ave., 1858 N. Kedzie Ave. & 2801 N. Central Park Ave. are listed separately but are owned by the same controlling entity and may be purchased together, providing immediate and greater scale in Logan Square and Belmont Cragin.

LOCATION DETAILS

INVESTMENT HIGHLIGHTS
- Significant rental upside: As the enclosed rental survey indicates, current rents are approximately $150 per unit per month below market on average. For example, the 1Bd/1Ba units average $840 per month; nearby comparables are achieving on average $110 per month higher. By bringing rents to market, a potential investor could increase annual collected income by approximately $3,960 for 1Bd/1Ba units.
- Opportunity to build-out vacant 1Bd/1Ba garden unit.

HIGHLIGHTS
  • Significant rental upside; Current rents are approx. $150/unit/month below market on average.
  • Value-add opportunity to build out a vacant 1Bd/1Ba garden unit.
  • Unit mix: (6) 1Bd/1Ba, (6) 2Bd/1Ba
  • All twelve apartments feature new drywall, new vinyl windows, and individual gas forced furnaces.
  • Select units feature new kitchens with espresso cabinetry, white appliances, and updated baths.
  • Market Cap Rate: 5.98% | Market GRM: 8.98 | Price Per Unit: $112,500
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Clay Maxfield
Director
773.305.4852