ON MARKET – MULTI-FAMILY
2317-2325 W. Chase Ave. Chicago, IL 60645
NEIGHBORHOOD
Rogers Park
PRICE
$1,750,000
NUMBER OF UNITS
12
CAP RATE
5.78%
PROPERTY LISTED

Essex Realty Group, Inc. is exclusively engaged to market for sale 2317-2325 W. Chase Ave. ("the Property"), a 12-unit, walk-up apartment building located in the West Rogers Park neighborhood of Chicago. The Property is situated steps from multiple CTA bus stops and 0.70 miles from the Rogers Park UP-N Metra Station.

The building is comprised of nine (9) 1Bd/1Ba, two (2) 2Bd/1Ba, one (1) 4Bd/2Ba apartments, and two (2) parking spaces in the rear. The building features a boiler, a new A.O. Smith hot water heater installed in 2019, 200 amp electric service, and coin-operated laundry. All units feature hardwood floors throughout, white appliances, wood cabinetry, laminate countertops, vintage details, radiator heat, and window air conditioning units.

2317-2325 W. Chase Ave. presents investors with multiple investment strategies. Two bedroom units at the building are renting for an average of $1,165/month, while nearby comparable units are renting for $1,200-$1,250/month. Alternatively, there is an opportunity to update the units with modern interiors, individual HVAC, and in-unit laundry. Renovated two bedroom units are renting for $1,300-$1,350/month.

LOCATION DETAILS

.

HIGHLIGHTS
  • 12-unit, vintage walk-up apartment building located in the West Rogers Park
  • Unit Mix: nine (9) 1Bd/1Ba, two (2) 2Bd/1Ba, one (1) 4Bd/2Ba apartments, and two (2) parking spaces
  • Recent capital improvements include new A.O. Smith hot water heater installed in 2019
  • 2Bd/1Ba units at the building average $1,165/month, while nearby comparable units average $1,200-$1,250/month;
  • Value-add opportunity to renovate units; Nearby renovated 2Bd/1Ba units average $1,300-$1,350/month
  • Situated steps from multiple CTA bus stops and 0.70 miles from the Rogers Park UP-N Metra Station
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Clay Maxfield
Director
773.305.4852