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3120-3151 W Madison St
Chicago, IL 60612
Madison Terrace - 96 Units - 13% Cash on Cash · Multifamily Property For Sale
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96 Units
Investment Highlights
- 96 Unit Rental Community - Eight Total Buildings.
- Laundry Rooms in Each Building; Furnaces and Central Air for Each Unit.
- On Site Management Office; Three Parking Lots Totaling Approx. 75 Spaces.
- Large 2, 3 and 4 Bedroom Apartments; 91% Leased via Tenant Based Vouchers.
- Attractive Loan with 2.81% Interest Rate -- CAN BE ASSUMED
- Class 9 Tax Status Resulting in Reduced Assessment.
Property Facts
| No. Units | 96 | Building Size | 54,200 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1983 |
| Building Class | C | Parking Ratio | 1.38/1,000 SF |
| Lot Size | 3.90 AC | ||
| Zoning | PD | ||
| No. Units | 96 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.90 AC |
| Building Size | 54,200 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1983 |
| Parking Ratio | 1.38/1,000 SF |
| Zoning | PD |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Storage Space
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Smoke Free
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 48 | - | 1,050 |
| 3+1.5 | 40 | - | 1,200 |
| 4+2 | 8 | - | 1,500 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $25,277 | |
| Land Assessment | $63,298 | Total Assessment | $88,575 |
Property Taxes
Parcel Numbers
Land Assessment
$63,298
Improvements Assessment
$25,277
Total Assessment
$88,575
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