ON MARKET – MULTI-FAMILY
4044-4060 N. Milwaukee Ave. Chicago, IL 60641
NEIGHBORHOOD
Portage Park
PRICE
$6,750,000
NUMBER OF UNITS
38
CAP RATE
6.72%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 4044-4060 N. Milwaukee Ave., (“the Property”) located in the heart of Chicago’s Portage Park neighborhood. The Property consists of thirty-four (34) apartments and 5,460 SF of fully lease commercial space. The apartments are comprised of three (3) studios, twenty-one (21) 1Bd/1Ba, eight (8) 2Bd/1Ba, and two (2) 3Bd/1.5Ba units.

LOCATION DETAILS

All the apartments and storefronts were fully renovated in 2017. The renovation included new drywall, individual HVAC, hardwood floors, stainless steel appliances, granite countertops, and baths with full tubs, new tile and vanities. Additionally, all major building systems have been updated including new copper plumbing and 2,000 AMP electric service throughout the building.
Please note, the offering does not include the theater, which is currently undergoing a substantial renovation.

HIGHLIGHTS
  • Opportunity to acquire a completely renovated, 38-unit building with all new building systems in the heart of Portage Park.
  • Unit Mix: (3) Studio, (21) 1Bd/1Ba, (8) 2Bd/1Ba, (2) 3Bd/1.5Ba, (4) Storefronts (5,460 SF)
  • Conveniently located 0.5 miles south-west of the Montrose Blue Line Station, 0.4 miles south-west of the Metra’s North Line Mayfair stop, and 0.5 miles west of the Kennedy Expressway.
  • GRM: 10.85 | Cap Rate: 6.72%
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Clay Maxfield
Director
773.305.4852