Apartments For Sale
20,000 Sq Ft
Marcus & Millichap is proud to present a 15-unit apartment building in the Portage Park Neighborhood of Chicago. Portage Park is approximately 10 miles from the Downtown Chicago Loop. It is bordered by Lawrence Ave to the North, Narragansett Ave to the West, Belmont Ave to the South and Cicero Ave to the East. The neighborhood is seeing a surge in new apartment stock, new businesses and restaurants. The change in the neighborhood is due to the proximity to the many public transits that service the neighborhood and the developments that are taking place along Milwaukee Ave in neighborhoods that are southeast of Portage Park.
The property consists of 15 units, of which there are 14 two-bedroom, one-bathroom units that measure 900 square feet and 1 one-bedroom, one-bathroom unit that measures 700 square feet respectively. All of the units have been updated with new electrical circuit breakers and wiring, in-unit HVAC, newer windows and copper plumbing. The property also features on-site washers and dryers.
The property is a turn-key investment for a new owner with rental upside in an up and coming neighbohood of Chicago. With the new retail, apartments and businesses in the area there is no reason this shouldn't be top performing investment to new owner's portfolio.