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3034-3040 W Montrose Ave 5 Unit Apartment Building $1,449,000 ($289,800/Unit) 7.73% Cap Rate Chicago, IL 60618



EXECUTIVE SUMMARY
East Albany Park neighborhood at its best commercial corridor of retail/pedestrian traffic. The corner of Montrose Ave., at Whipple Ave., just east of Kedzie Ave., traffic light intersection. 2024, recent improvements exceeded $200,000. Approximately 7,470 Sq. ft. of land and 6,500 Sq. ft. of mixed-use building. 2-pin numbers front and back. Offering the possibility of erecting another multi/mixed-use building on the rear pin number with the address of 4410 N. Whipple Ave. Current existing building featuring 5-Commercial stores leased to 3-different tenants/users. 2-Residnetial units on the 2nd level, consisting of 2-bedrooms 1-bath each. NEARBY retailers, include, Walgreens, Starbucks, Dunkin Donates, restaurants and shops. Strong street presence and exposure. Walking distance to all convenient retailers, shops, entertainment places, and public transportation. Rear metal gated parking offers 15-Spaces. Great location, close to major roads, interstates, O’Hare Airport, downtown, and within short distance to Lake Shore Dr.
PROPERTY FACTS
| Price | $1,449,000 | Apartment Style | Low-Rise |
| Price Per Unit | $289,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.73% | Building Size | 6,438 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | Cross Streets | N Whipple St. |
| Zoning | B3-2 | ||
| Price | $1,449,000 |
| Price Per Unit | $289,800 |
| Sale Type | Investment |
| Cap Rate | 7.73% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,438 SF |
| No. Stories | 2 |
| Year Built | 1922 |
| Cross Streets | N Whipple St. |
| Zoning | B3-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 13-13-127-033-0000 | Improvements Assessment | $58,032 |
| Land Assessment | $23,772 | Total Assessment | $81,804 |
PROPERTY TAXES
Parcel Number
13-13-127-033-0000
Land Assessment
$23,772
Improvements Assessment
$58,032
Total Assessment
$81,804
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3034-3040 W Montrose Ave
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