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5205 W Pensacola Ave

Chicago, IL 60641

$2,625,000

Apartments For Sale  •  20,000 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 20,000 Sq Ft
  • Lot Size 0.21 ac
  • Building Class B
  • Year Built 1908
  • Cap Rate 6.56 %
  • Zoning R
65 Transit Score
70 Walk Score

Description

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.

Financial Summary

Cap Rate: 6.56 %

Amenities

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Dishwasher
  • Disposal
  • Laundry Facilities
  • Microwave
  • Security System
  • Storage Space

Public Transportation

Commuter RailDriveWalkDistance
Mayfair Station Commuter Rail (Milwaukee District North Line) 3 min 10 min 0.6 mi
Jefferson Park Station Commuter Rail (Union Pacific Northwest Line) 5 min 18 min 1.0 mi
Transit/SubwayDriveWalkDistance
Montrose Station (Blue Line) - 14 min 0.8 mi
Jefferson Park Station (Blue Line) 5 min 18 min 1.0 mi
AirportDriveWalkDistance
Chicago O'Hare International Airport 13 min - 8.1 mi
Chicago Midway International Airport 28 min - 18.9 mi
James Ziegler 312-624-7020 Marcus & Millichap
James Ziegler 312-624-7020 Marcus & Millichap