Essex Realty Group Inc., is pleased to exclusively engage to market for sale 5600 S Loomis Boulevard, a nine (9) unit property in the Englewood neighborhood of Chicago. From the electrical to the roof, there are signs of great care and maintenance. This property is nestled in a quiet residential block and is just a few steps away from Sherman Park & playground. The subject property is comprised of two (2) studios, five (5) 2 bedrooms, and two (2) 3 bedroom apartment units. Each unit includes radiator heat, eat-in kitchens and spacious living rooms. There is a value-add opportunity to update the kitchen countertops, bathroom vanities, and common areas. There is parking available to be monetized with 3 garage spaces and an additional off-street site. Investors walk into the deal day one with an excellent value-add opportunity and the ability to start increasing rents.
The Englewood neighborhood is up and coming with numerous developments occurring more frequently than ever. Less than a mile away from the subject property is a recently revamped shopping hub. This hub includes grocery stores such as Whole Foods & Aldi, a Walgreens Pharmacy, and coffee shops like Starbucks & Dunkin Donuts to name a few. The property is also situated on Ogden Park, which features playgrounds, tennis courts, swimming pool and other recreational activities.
- Value-Add opportunity
- Opportunity to increase rents 22% to market or 35% with Section 8
- Large layouts with living and dining rooms
- Boiler building