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1946 S Racine Ave
Chicago, IL 60608
Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- Located right off S Racine Ave, only minutes from Dvorak Park!
EXECUTIVE SUMMARY
Large brick 10 unit in Chicago's East Pilsen neighborhood. Complete gut renovation completed in 2017-18. 100% tenant occupied and generates over $250K in annual gross rental income. At the time of renovations, the building was taken down to the brick walls and new open floor plans were created. Flooring, windows, roof, electrical, plumbing, all mechanical systems, etc., were all updated at that time. Condo quality units feature large bedrooms, open layouts, white kitchens with quartz counters, all S.S. appliances, in-unit washer & dryer in all units, and modern white/gray finishes. The building sits on an oversized lot with 3 parking spots in the rear and a full basement for potential additional storage. Great mix of 1BR, 2BR, & 3BR units. Highly desirable location in Pilsen!
PROPERTY FACTS
| Price Per Unit | $259,900 | Property Subtype | Apartment |
| Sale Type | Investment | Apartment Style | Mid-Rise |
| Cap Rate | 7.50% | Building Class | C |
| Sale Condition | Bulk/Portfolio Sale | Lot Size | 0.10 AC |
| Gross Rent Multiplier | 10.4 | Building Size | 12,000 SF |
| No. Units | 10 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1889 |
| Zoning | C1-2 | ||
| Price Per Unit | $259,900 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 10.4 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 12,000 SF |
| No. Stories | 4 |
| Year Built | 1889 |
| Zoning | C1-2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 10 | - | 490 |
PROPERTY TAXES
| Parcel Number | 17-20-326-037-0000 | Improvements Assessment | $134,068 |
| Land Assessment | $16,632 | Total Assessment | $150,700 |
PROPERTY TAXES
Parcel Number
17-20-326-037-0000
Land Assessment
$16,632
Improvements Assessment
$134,068
Total Assessment
$150,700
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