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2455 N Laramie Ave 12 Unit Apartment Building $1,250,000 ($104,167/Unit) 5.11% Cap Rate Chicago, IL 60639
Executive Summary
Kiser Group is pleased to present 2455 N. Laramie Ave, a value-add 12-unit apartment building located on Chicago’s Northwest Side. The Property features a desirable and efficient unit mix of two (2) 2Bd/1Ba units and ten (10) 1Bd/1Ba units, all offering spacious layouts with dated but well-maintained interior finishes, providing a clear runway for modernization.
The building is centrally heated by a boiler system and serviced by one hot water tank for all tenants. Building plumbing consists of a mix of copper and galvanized. Tenants are responsible for their own cooking gas and electric utilities.
2455 N. Laramie Ave represents a compelling value-add investment for a new owner. Through unit renovations, mechanical upgrades, and improved management, an investor can unlock significant upside and achieve a nearly 9.0% cap rate upon stabilization. This asset is well-positioned for investors seeking strong yield potential in a supply-constrained Chicago submarket.
The building is centrally heated by a boiler system and serviced by one hot water tank for all tenants. Building plumbing consists of a mix of copper and galvanized. Tenants are responsible for their own cooking gas and electric utilities.
2455 N. Laramie Ave represents a compelling value-add investment for a new owner. Through unit renovations, mechanical upgrades, and improved management, an investor can unlock significant upside and achieve a nearly 9.0% cap rate upon stabilization. This asset is well-positioned for investors seeking strong yield potential in a supply-constrained Chicago submarket.
Property Facts Under Contract
| Price | $1,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $104,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.11% | Building Size | 8,500 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 0.24/1,000 SF |
| Zoning | B4-1, Cook | ||
| Price | $1,250,000 |
| Price Per Unit | $104,167 |
| Sale Type | Investment |
| Cap Rate | 5.11% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 8,500 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Parking Ratio | 0.24/1,000 SF |
| Zoning | B4-1, Cook |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | 800 |
| 1+1 | 10 | - | 650 |
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Number | 13-28-424-001-0000 | Improvements Assessment | $67,458 |
| Land Assessment | $17,843 | Total Assessment | $85,301 |
Property Taxes
Parcel Number
13-28-424-001-0000
Land Assessment
$17,843
Improvements Assessment
$67,458
Total Assessment
$85,301
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2455 N Laramie Ave
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