1101 N Avers Ave
Chicago, IL 60651
Multifamily Property For Sale
·
12 Units
Property Facts
| No. Units | 12 | Lot Size | 0.24 AC |
| Property Type | Multifamily | Building Size | 13,353 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1927 |
| Building Class | C | Parking Ratio | 0.51/1,000 SF |
| Zoning | RS-3 - Residential Single-Unit District | ||
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 13,353 SF |
| No. Stories | 3 |
| Year Built | 1927 |
| Parking Ratio | 0.51/1,000 SF |
| Zoning | RS-3 - Residential Single-Unit District |
About 1101 N AVERS AVE , CHICAGO, IL 60651
The current unit mix consists of Twelve (12) 1 Bed / 1 Bath layouts accompanied by two-detached garages housing six (6) parking spaces. All the units feature extremely large floor plans with separate dining rooms. All the units have separate furnaces. Domestic hot water is provided by two hot water boilers. Electricity is separately metered with 400 AMP’s coming into the building. A new buyer should highly consider converting the current units into two-bedroom apartments. *All of the kitchen appliances are tenant owned and not personal property of the building.* An investor has the extremely rare opportunity to acquire a multi-family asset in an opportunity zone area of Chicago that has seen tremendous growth and development in recent years. A new buyer can capitalize by raising current rents to market and operating as-is or converting the current layouts to 2 Bed / 1 Bath units for a significant yield increase. This is a true value-add investment offering; the current rents are averaging at least 18% below market. The property is being marketed for sale at $70,833/unit with a proforma CAP rate exceeding 10%.
Property Taxes
| Parcel Number | 16-02-303-023-0000 | Improvements Assessment | $94,930 |
| Land Assessment | $19,296 | Total Assessment | $114,226 |
Property Taxes
