ON MARKET – MULTI-FAMILY
4401-4407 N. Mozart St. Chicago, IL 60625
NEIGHBORHOOD
Ravenswood Manor
PRICE
$3,665,000
NUMBER OF UNITS
19
CAP RATE
6.02%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 4401-4407 N. Mozart St., a 19-unit mixed-use corner building in Chicago’s highly desirable Ravenswood Manor neighborhood. The building has undergone extensive capital improvements and all of the apartment units had been gut-rehabbed in 2015. Additionally, Kennedy Mann, an accredited architectural design firm, occupies all 1,500 SF of the ground floor retail space with seven (7) years remaining on their current lease.

Each intricately rehabbed apartment unit features high-end finishes, exposed brick, quartz countertops, stainless steel appliances, in-unit circuit breakers and in-unit laundry. The units offer an attractive mix of three (3) 1 Bd/1 Ba units, seven (7) 2 Bd/1Ba units, and six (6) 2 Bd/2 Ba units.

Lastly, the location provides convenient access to an array of dining, green space and transportation options. The property is situated only three (3) blocks to Francisco Brown Line and one (1) block from the massive 58-acre Horner Park. Additionally, there are multiple bus routes along Montrose Avenue. With its desirable location and unique attributes, the property offers an investor the opportunity to acquire a rarely available turn-key asset in a much sought-after market.

*Due to the property being 100% occupied, Matterport tours will be provided to interested parties, upon signing of a Confidentiality Agreement. In-person tours will be offered only to interested parties with offers in consideration.

LOCATION DETAILS

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HIGHLIGHTS
  • Excellent Ravenswood Manor Location
  • Apartments Generate 92% of Total Income
  • Stabilized Turn-Key Property
  • 6.02% Cap Rate in Year 1 w/ Additional Upside
  • All Apartment Units have been Extensively Remodeled
  • Significant Capital Improvements
  • Current Rents are Materially Below Market
  • Accredited Retail Tenant on 10-Year Lease Occupies All 1,500 SF of Ground Level Commercial Space
  • 7-Minute Walk to Francisco Brown Line
  • One (1) Block from 58-Acre Horner Park
LISTING BROKERS
Abe Eilian
Director
773.305.4882
Matt Feo
Director
224.305.4102
Jonathan Weissman
Associate
773.305.4866