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3742 W Montrose Ave 9 Unit Apartment Building $900,000 ($100,000/Unit) 6.14% Cap Rate Chicago, IL 60618
Investment Highlights
- 2 Car Garage
Executive Summary
3742 W. Montrose is a 9-unit mixed-use asset offered as part of the Gary R. Carlson Northwest Side Portfolio, located in Chicago’s Albany Park neighborhood. The building features nine total units, consisting of 3 studios, 2 one-bedrooms, 3 two-bedrooms, and one commercial space, providing a balanced and in-demand unit mix. Built in 1919 and offering 6,150 rentable square feet, the property has benefited from recent capital improvements, including a 2023 renovation of the roof, masonry, and windows. Situated near neighborhood amenities and public transit along Montrose Avenue, this building offers stable income with upside potential. B3-1 & Northwest ADU Pilot Zoning.
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- Offering Memorandum
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$101,040
|
$17.72
|
| Other Income |
$1,800
|
$0.32
|
| Vacancy Loss |
$5,142
|
$0.90
|
| Effective Gross Income |
$97,698
|
$17.13
|
| Taxes |
$12,700
|
$2.23
|
| Operating Expenses |
$29,728
|
$5.21
|
| Total Expenses |
$42,428
|
$7.44
|
| Net Operating Income |
$55,270
|
$9.69
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $101,040 |
| Annual Per SF | $17.72 |
| Other Income | |
|---|---|
| Annual | $1,800 |
| Annual Per SF | $0.32 |
| Vacancy Loss | |
|---|---|
| Annual | $5,142 |
| Annual Per SF | $0.90 |
| Effective Gross Income | |
|---|---|
| Annual | $97,698 |
| Annual Per SF | $17.13 |
| Taxes | |
|---|---|
| Annual | $12,700 |
| Annual Per SF | $2.23 |
| Operating Expenses | |
|---|---|
| Annual | $29,728 |
| Annual Per SF | $5.21 |
| Total Expenses | |
|---|---|
| Annual | $42,428 |
| Annual Per SF | $7.44 |
| Net Operating Income | |
|---|---|
| Annual | $55,270 |
| Annual Per SF | $9.69 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 425 |
| 1+1 | 2 | - | 650 |
| 2+1 | 3 | - | 800 |
1 1
Walk Score®
Very Walkable (80)
Property Taxes
| Parcel Number | 13-14-126-023-0000 | Total Assessment | $63,001 (2025) |
| Land Assessment | $10,938 (2025) | Annual Taxes | $12,700 ($2.23/SF) |
| Improvements Assessment | $52,063 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
13-14-126-023-0000
Land Assessment
$10,938 (2025)
Improvements Assessment
$52,063 (2025)
Total Assessment
$63,001 (2025)
Annual Taxes
$12,700 ($2.23/SF)
Tax Year
2024
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3742 W Montrose Ave
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