ON MARKET – MULTI-FAMILY
7381 N. Damen Ave. Chicago, IL 60645
NEIGHBORHOOD
Rogers Park
PRICE
$4,750,000
NUMBER OF UNITS
32
CAP RATE
5.69%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 7381 N. Damen Ave., a 32-unit courtyard apartment building located on the corner of Damen and Fargo Avenues in Chicago’s Northside neighborhood of Rogers Park.

The property consists of 32 apartments plus 2 non-conforming units. A new owner may seek to have those units made legal with a variance from the alderman. The building is comprised of one (1) one bedroom/one bathroom unit, twenty-six (26) two bedroom/one bath units, four (4) three bedroom/one bath units, and three (3) three bedroom/two bath units. The units predominantly feature white or stainless steel appliances, laminate countertops, hardwood floors, and radiator heat.

7381 N. Damen Ave. provides investors with the opportunity to acquire a well-maintained courtyard apartment building with proven rental upside. Current average rents are approximately $150-$200/month below neighboring apartments with comparable finishes. The property is located on a peaceful tree lined street 0.1 miles away from Pottawatomie Park. The property is in close proximity to local restaurants, boutiques, conveniently located bus stops, and within 0.7 miles of the Howard CTA station and 0.4 miles of Jewel-Osco.

LOCATION DETAILS

.

HIGHLIGHTS
  • Rarely Available Courtyard Building in Rogers Park
  • 32-Units on the Corner of Damen and Fargo Avenues
  • Value-Add Opportunity: Rents Currently $150-$200/Mo. Below Market
  • 2 Non-Conforming Units - May be Made Legal with Variance from the Alderman
LISTING BROKER
Kate Varde
Principal
773.305.4908