Essex Realty Group, Inc. is pleased to present 7226 N. Rogers Ave., an 8-unit brick, walk-up building situated near the intersection of Rogers Ave. and Ridge Blvd. in Chicago’s vibrant East Rogers Park neighborhood.
The current unit mix consists of seven (7) two-bedroom / one-bath and one (1) one-bedroom / one-bath layouts. Two of the eight apartments are English Garden units with lots of natural light and an above-grade feel. All apartments have been carefully maintained and feature modern updates, ensuring they are in excellent rental condition. This includes new kitchens (cabinetry, stone countertops, SS appliances), updated bathrooms (vanity, sink, faucet, toilet, tile work), hardwood flooring throughout, and trim work. The building also offers two (2) surface parking spaces located in the rear that provide additional income. It is important to note that the coach house and it’s parking, owned by a separate entity, are not included in the offering.
7226 Rogers boasts several notable improvements, such as separately metered electricity, a regularly maintained flat roof, recent tuck pointing, copper plumbing, and other capital expenditures detailed on page 7 of this offering. Every unit is fitted with its own HVAC system, while domestic hot water is supplied by a Bradford White Hot Water Heater installed in 2017. Furthermore, the side porches were replaced in 2018.
With significant growth potential and a prime East Rogers Park location, this turnkey opportunity is ideal for savvy investors looking to capitalize on a well-performing asset. With rental rates currently below market standards, this presents a unique chance for investors to not only acquire a meticulously maintained property but also effortlessly boost cash flow.
Known for its beaches, vintage apartments, cultural diversity, and Loyola University, Rogers Park is one of Chicago’s most robust lakefront communities. Just ten miles North of Chicago’s Central Business District, Rogers Park has convenient transportation to and from the city including four CTA “L” stops (Loyola, Morse, Jarvis, & Howard stops); one Metra Train stop at Lunt Avenue; five local bus lines; and the Howard Bus and “L” terminal which is the starting point for north suburban travel.
Rogers Park, boasting a population of just over 60,000 people, stretches along Lake Michigan between Devon and Howard and runs west to Ridge Avenue. The neighborhood is home to over 130 restaurants and just as many diverse retail offerings along its central corridors and quaint, tree-lined streets.
Also of great impact to the Rogers Park neighborhood is the explosive growth in enrollment at Loyola University. The University’s Lake Shore Campus is just steps away from the subject property and is home to over 16,000 students and 1,000 faculty members. Eighteen of Loyola University’s nineteen residence hall buildings are located in the Edgewater and Rogers Park neighborhoods, prompting established retailers and eateries to open convenient locations along the campus’ perimeter.
- Prime Location in East Rogers Park
- 8-Unit Walk-Up Building
- (1) One- & (7) Two-Bedroom Layouts
- Exceptionally Well-Maintained Asset
- Many Recent Capital Improvements
- Two (2) Exterior Parking Spaces
- High-End Finishes with Tremendous Rental Upside