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3200-3202 N Cicero Ave

Chicago, IL 60641

$2,700,000

Apartments For Sale  •  38,763 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 38,763 Sq Ft
  • Lot Size 0.31 ac
  • Building Class C
  • Year Built 1914
  • Cap Rate 7.57 %
58 Transit Score
83 Walk Score

Description

Beautiful and ornate 24 unit Corner Building in Portage Park.   Details include architectural highlights of Spartan Warriors in the terracotta layer along the roof line, marble floors in the main hallway, very prominent intersection in the burgeoning neighborhood of Portage Park, Chicago and a valuable profit sharing asset on the roof.

Highlights

- Rehabbed 16 out of 24 units
- 100% occupied with a 7.5 CAP near list
- Renegotiated billboard lease so that on top of rent, the owner also gets a 25% revenue share.
- Residential units have large open layouts with plenty of natural sunlight
- Value add left in 5 residential units. $1.5k-2.5K of untapped monthly income

Financial Summary (Actual)

Net Operating Income: $213,013 (2017)
Cap Rate: 7.57 %
Total Expenses: $69,947

Major Tenants

Tenant SF Occupied Lease End Date
Boost Mobile 2,500 SF 1/31/2022
Currency Exchange International 500 SF
Express Automobile Inc 2,283 SF

Amenities

  • Cable Ready
  • Storage Space
  • Heating
  • Gas Range
  • Vintage Building
  • Bay Window
  • Ceiling Fans
  • Crown Molding
  • Kitchen
  • Hardwood Floors
  • Oven
  • Stainless Steel Appliances
  • Range
  • Tub/Shower
  • Bicycle Storage
  • Maintenance on site
  • Grill
  • Breakfast Nook
  • Dining Room
  • Double Pane Windows
  • Family Room
  • Freezer
  • Handrails
  • Pantry
  • Smoke Free

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Todd Smith 773-330-7772 Chester David Group
Todd Smith 773-330-7772 Chester David Group