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3227-3231 S Halsted St 9 Unit Apartment Building $4,699,000 ($522,111/Unit) 6.53% Cap Rate Chicago, IL 60608
INVESTMENT HIGHLIGHTS
- 9 Updated Residential Units - Each with hardwood floors, balconies, in unit washer/dryer, individual HVAC, water meter, electric, and modern finishes
- Elevator Building with Indoor Parking - Secure Access - Key fob entry and building-wide alarm system All Brick Construction - Solid, well-maintained
- Additional Income Potential - Cell tower placement opportunity could generate approx. $30,000/year
- 2 Commercial Store Fronts - Long term tenants include a UPS Store and U.S. Postal Uniform retailer
- Prime Location - Across from the new police station and Starbucks, walkable to U.S. Cellular Field and Red Line, restaurants and shops
- Attractive Financing - Assumable mortgage at 5.19% maturity date 2038
EXECUTIVE SUMMARY
Incredible Investment Opportunity – Fully Updated Multi-Use Brick Building in Prime Chicago Location! There is a portfolio of 3 buildings available in Chicago...
3600 S Halsted, 3247 S. Emerald, 3227 S Halsted
This solid brick, mixed-use elevator building features 9 fully updated residential units (renovated in 2013) with hardwood floors, private balconies, and modern finishes. Includes 2 street-level commercial spaces with established tenants — a UPS Store and a U.S. Postal Uniform retailer.
Property offers indoor parking, key fob entry, and a building-wide alarm system for added security. Located directly across from the police station and Starbucks, with excellent foot traffic, walkability to U.S. Cellular Field, and just steps to the Red Line.
Assumable mortgage available at 5.19% maturity date November 1, 2038. Bonus potential to add a cell phone tower on the roof with estimated $30,000/year in additional income.
Rare Chicago Portfolio - Three Fully-Renovated Brick Multi-Use Buildings: 3600 S. Halsted | 3227 S. Halsted | 3247 S. Emerald.
Incredible opportunity to acquire a portfolio of three solid brick apartment buildings in prime Chicago locations. This investment package includes a total of 27 residential units and 3 commercial storefronts, all with updated interior, excellent tenant history, and strong cash flow.
Assumable mortgage available at 5.19% maturity date November 1, 2038. Bonus potential to add a cell phone tower on the roof with estimated $30,000/year in additional income.
Rare Chicago Portfolio - Three Fully-Renovated Brick Multi-Use Buildings. 3600 S. Halsted | 3227 S. Halsted | 3247 S. Emerald.
Incredible opportunity to acquire a portfolio of three solid brick apartment buildings in prime Chicago locations. This investment package includes a total of 28 residential units and 3 commercial storefronts, all with updated interior, excellent tenant history, and strong cash flow.
3600 S Halsted, 3247 S. Emerald, 3227 S Halsted
This solid brick, mixed-use elevator building features 9 fully updated residential units (renovated in 2013) with hardwood floors, private balconies, and modern finishes. Includes 2 street-level commercial spaces with established tenants — a UPS Store and a U.S. Postal Uniform retailer.
Property offers indoor parking, key fob entry, and a building-wide alarm system for added security. Located directly across from the police station and Starbucks, with excellent foot traffic, walkability to U.S. Cellular Field, and just steps to the Red Line.
Assumable mortgage available at 5.19% maturity date November 1, 2038. Bonus potential to add a cell phone tower on the roof with estimated $30,000/year in additional income.
Rare Chicago Portfolio - Three Fully-Renovated Brick Multi-Use Buildings: 3600 S. Halsted | 3227 S. Halsted | 3247 S. Emerald.
Incredible opportunity to acquire a portfolio of three solid brick apartment buildings in prime Chicago locations. This investment package includes a total of 27 residential units and 3 commercial storefronts, all with updated interior, excellent tenant history, and strong cash flow.
Assumable mortgage available at 5.19% maturity date November 1, 2038. Bonus potential to add a cell phone tower on the roof with estimated $30,000/year in additional income.
Rare Chicago Portfolio - Three Fully-Renovated Brick Multi-Use Buildings. 3600 S. Halsted | 3227 S. Halsted | 3247 S. Emerald.
Incredible opportunity to acquire a portfolio of three solid brick apartment buildings in prime Chicago locations. This investment package includes a total of 28 residential units and 3 commercial storefronts, all with updated interior, excellent tenant history, and strong cash flow.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$360,336
|
$23.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$360,336
|
$23.83
|
| Taxes |
$26,200
|
$1.73
|
| Operating Expenses |
$27,504
|
$1.82
|
| Total Expenses |
$53,704
|
$3.55
|
| Net Operating Income |
$306,632
|
$20.28
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $360,336 |
| Annual Per SF | $23.83 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $360,336 |
| Annual Per SF | $23.83 |
| Taxes | |
|---|---|
| Annual | $26,200 |
| Annual Per SF | $1.73 |
| Operating Expenses | |
|---|---|
| Annual | $27,504 |
| Annual Per SF | $1.82 |
| Total Expenses | |
|---|---|
| Annual | $53,704 |
| Annual Per SF | $3.55 |
| Net Operating Income | |
|---|---|
| Annual | $306,632 |
| Annual Per SF | $20.28 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Deck
- Smoke Free
- Window Coverings
- Large Bedrooms
- Floor to Ceiling Windows
SITE AMENITIES
- Gas Range
- Package Service
- Elevator
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $177,801 | |
| Land Assessment | $28,125 | Annual Taxes | $26,200 ($1.73/SF) |
| Improvements Assessment | $149,676 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$28,125
Improvements Assessment
$149,676
Total Assessment
$177,801
Annual Taxes
$26,200 ($1.73/SF)
Tax Year
2024
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3227-3231 S Halsted St
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