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1522-1524 W Thorndale Ave 6 Unit Apartment Building $2,350,000 ($391,667/Unit) 6.71% Cap Rate Chicago, IL 60660
Investment Highlights
- Prime Location; Prime Edgewater location close by the Peterson Metra Station
- Recent Capital Improvements; 2020 & 2021 Improvements: New Electric Service; New Peerless Boiler, New Complete Tear-Off Roof; and All New Windows
- Convenience; Multiple CTA public transportation options within walking distance from the subject property
- Ability To Push Rents; Opportunity for new owner to push rents $150/mo
- Affluent Area; Located in an affluent area of Chicago; average household income of $98,100 and population of 144,988 within 2-miles
- Undiscovered Value; Ability to lease out parking spots for rent for additional income
Property Facts Under Contract
| Price | $2,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $391,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.71% | Building Size | 10,362 SF |
| Gross Rent Multiplier | 10.7 | No. Stories | 3 |
| No. Units | 6 | Year Built | 1926 |
| Property Type | Multifamily | Parking Ratio | 0.5/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | 10 | ||
| Price | $2,350,000 |
| Price Per Unit | $391,667 |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| Gross Rent Multiplier | 10.7 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 10,362 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Parking Ratio | 0.5/1,000 SF |
| Zoning | 10 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 6 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 14-05-300-027-0000 | Improvements Assessment | $107,360 |
| Land Assessment | $44,640 | Total Assessment | $152,000 |
Property Taxes
Parcel Number
14-05-300-027-0000
Land Assessment
$44,640
Improvements Assessment
$107,360
Total Assessment
$152,000
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1522-1524 W Thorndale Ave
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