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The Balaban 1242 W Lawrence Ave 54 Unit Apartment Building $19,250,000 ($356,481/Unit) 5.77% Cap Rate Chicago, IL 60640
Investment Highlights
- 54 Apartments and Two Commercial Spaces
- Balconies Available in Select Apartments
- High-End Amenities Including Resident Lounge, Two Rooftop Decks with City Views, Sundeck and Dog Run
Property Facts
| Price | $19,250,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $356,481 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 5.77% | Building Size | 70,000 SF |
| Gross Rent Multiplier | 11.37 | No. Stories | 5 |
| No. Units | 54 | Year Built | 2021 |
| Property Type | Multifamily | Parking Ratio | 0.39/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | B3-3 | ||
| Price | $19,250,000 |
| Price Per Unit | $356,481 |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| Gross Rent Multiplier | 11.37 |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.47 AC |
| Building Size | 70,000 SF |
| No. Stories | 5 |
| Year Built | 2021 |
| Parking Ratio | 0.39/1,000 SF |
| Zoning | B3-3 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Ceiling Fans
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | - | 548 - 550 |
| 1+1 | 37 | - | 576 - 783 |
| 2+1 | 4 | - | 865 |
| 2+1.5 | 4 | - | 850 - 870 |
Exceptionally walkable
100/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $779,363 | |
| Land Assessment | $112,268 | Total Assessment | $891,631 |
Property Taxes
Parcel Numbers
Land Assessment
$112,268
Improvements Assessment
$779,363
Total Assessment
$891,631
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The Balaban | 1242 W Lawrence Ave
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