Essex Realty Group, Inc. has been exclusively engaged to market for sale, 2644 North Albany Avenue, located in Chicago’s popular Logan Square neighborhood. The building is comprised of six large 2 bed/1 bath apartments and one studio garden apartment. The two-bedroom apartments are spacious & bright and feature hardwood floors, stainless steel appliances, granite countertops, tile backsplash & showers, spacious living rooms with separate dining rooms, central heat with window A/C units, shared laundry in the basement and rear decks. The studio apartment features white kitchen appliances. There is an opportunity for an investor to raise current rents to market level by adding dishwashers, central air conditioning, and laundry into each unit.
ASSUMABLE DEBT AVAILABLE AT 4.93%
Freddie Mac loan serviced by Arbor Multifamily Lending
Contact your Essex Broker for more information
The building is ideally situated at the southwest corner of Albany Avenue and Schubert Avenue, and it is conveniently located only one block to historic Logan Boulevard and just over two blocks to the Logan Square L Station, making this an excellent location within the Logan Square neighborhood. Quick access to the CTA Blue Line Station and 90/94 expressway, along with several bus stops, offers tenants many excellent transportation options. 2644 North Albany is a rare opportunity to own a building in a prime Logan Square location with an endless choice of trendy restaurants, local bars and entertainment options just steps away.
Logan Square, located approximately three miles northwest of Chicago’s central business district, is a multi-cultural community of arts organizations, music venues, local businesses, and an abundance of restaurants and cocktail bars.
Among other things, the area is known for its historical and handsome solid greystone two- and three- flats, and single-family homes that line Logan, Kedzie and Humboldt Boulevards, and Logan and Palmer Squares. The majority of which were constructed by German and Scandinavian immigrants in the late 1800s. After the Great Chicago Fire of 1871, the neighborhood’s population began rapidly expanding; and, by 1889, the entirety of Logan Square had been annexed by the City of Chicago & the CTA’s L line
Today, the area continues to see expansion year after year. A booming growth in population has allowed for new residential and retail developments to pop up over the last several years. Residents can often be found enjoying the Chicago weather on the 2.5 mile stretch of boulevards that expand across the neighborhood.
- Assumable Debt at 4.93% Fixed Through 2028
- Incredible Location on One of Logan Square’s Premier Streets, One Block off Logan Boulevard
- Well Maintained Building with Vintage Charm
- Large 2 Bed/1 Bath Layouts with Separate Living & Dining Rooms
- Individual Furnaces, New 400 AMP Electric Service and 100 AMPs to Each Unit
- New Roof in 2019, Upgraded Porch System
- 3 Minute Walk to Logan Square Blue Line CTA Station
- Short Walk to Incredible Shopping and Nightlife along Milwaukee Avenue
- Inside the Northwest ADU Zone; Large Basement with Tall Ceiling Heights