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4140 N Western Ave 3 Unit Apartment Building Offered at $699,000 at a 9.93% Cap Rate Chicago, IL 60618
INVESTMENT HIGHLIGHTS
- Two-flat with additional garden unit (buyer to verify legality)
- Separate utilities, updated mechanicals, on-site laundry
- All units vacant — value-add or owner-occupy
- Prime North Center location near Horner Park and transit
EXECUTIVE SUMMARY
4140 N Western Avenue is a well-maintained two-flat with an additional garden unit (buyer to verify legality), offering strong stabilized cash flow and value-add upside in the heart of North Center. The property features a desirable unit mix consisting of a 3 Bed / 2 Bath duplex-up, 2 Bed / 1 Bath, and 1 Bed / 1 Bath lower-level unit.
The building benefits from separate utilities, updated mechanical systems, on-site laundry, and a functional layout well-suited for both investors and owner-occupants. All units are currently vacant, providing immediate flexibility to renovate, lease at market rents, or occupy.
Located along Western Avenue near Horner Park, public transit, and the Lincoln Square and North Center retail corridors, the property offers exceptional accessibility, long term rental demand, and neighborhood stability. 4140 N Western presents a compelling opportunity to acquire a flexible, income-producing asset in one of Chicago’s most sought-after North Side neighborhoods.
The building benefits from separate utilities, updated mechanical systems, on-site laundry, and a functional layout well-suited for both investors and owner-occupants. All units are currently vacant, providing immediate flexibility to renovate, lease at market rents, or occupy.
Located along Western Avenue near Horner Park, public transit, and the Lincoln Square and North Center retail corridors, the property offers exceptional accessibility, long term rental demand, and neighborhood stability. 4140 N Western presents a compelling opportunity to acquire a flexible, income-producing asset in one of Chicago’s most sought-after North Side neighborhoods.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Range
- Porch
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,600 | 500 |
| 2+1 | 1 | $2,200 | 1,100 |
| 3+2 | 1 | $3,800 | 1,600 |
1 1
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (75)
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4140 N Western Ave
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