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12003-12005 S Stewart Ave
Chicago, IL 60628
Multifamily Property For Sale
·
13 Units
INVESTMENT HIGHLIGHTS
- Desirable Unit Mix: (5) 1 BD/1 BA & (8) 2 BD/1 BA with spacious floor plans
- Value add component by renovating units and bringing rents to market levels
- Fast appreciating submarket
- Brand new boiler installed 2021. Upgrades to electric service and roof
- On-site laundry for tenant convenience
EXECUTIVE SUMMARY
Interra Realty has been exclusively engaged to present for sale 12003-12005 S. Stewart Ave. Located in Chicago's Pullman neighborhood, the subject property is a 13 unit multifamily asset featuring (5) 1 BD/1 BA and (8) 2 BD/1 BA units. The units feature spacious floor plans and offer a value add opportunity through cosmetic upgrades to units to bring rents to market levels.
Current ownership has outfitted the building with a brand new boiler, electrical upgrades, and roof improvements. There is a laundry room on site for tenant convenience.
A qualified investor has the opportunity to acquire a well managed, well maintained asset with the ability to significantly drive rents to market levels through leasing, management, and the continued modernization of the existing vintage units.
Current ownership has outfitted the building with a brand new boiler, electrical upgrades, and roof improvements. There is a laundry room on site for tenant convenience.
A qualified investor has the opportunity to acquire a well managed, well maintained asset with the ability to significantly drive rents to market levels through leasing, management, and the continued modernization of the existing vintage units.
PROPERTY FACTS
| Price Per Unit | $75,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.30% | Lot Size | 0.19 AC |
| No. Units | 13 | Building Size | 9,850 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1924 |
| Zoning | RS-3 - Residential | ||
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| Cap Rate | 8.30% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 9,850 SF |
| No. Stories | 2 |
| Year Built | 1924 |
| Zoning | RS-3 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 8 | - | - |
PROPERTY TAXES
| Parcel Number | 25-28-208-037-0000 | Improvements Assessment | $81,400 |
| Land Assessment | $4,100 | Total Assessment | $85,500 |
PROPERTY TAXES
Parcel Number
25-28-208-037-0000
Land Assessment
$4,100
Improvements Assessment
$81,400
Total Assessment
$85,500
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