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Crestwood Apartments 525 N Austin Blvd 57 Unit Apartment Building $750,000 ($13,158/Unit) Chicago, IL 60644
Investment Highlights
- 57-Unit subsidized senior living building located on Chicago's west side
- Conveniently located within walking distance and a few blocks away from the Austin CTA “L” Station (Green Line)
- All but one (1) of the units are subsidized through the CHA
- 89% leased, providing immediate consistent cash flow upon acquisition
- approx. one (1) mile from Interstate-290 (I-290), providing convenient access for residents and visitors
Executive Summary
Crestwood Apartments, located at 525 N. Austin Boulevard, features a six (6) story subsidized senior living apartment building on Chicago's West Side. Constructed in 1930, the 57-unit building sits on 0.34 acres and features a studio-heavy mix with 40 studio units, 16 1-bedroom units, and one (1) 2-bedroom unit. The building is 89% occupied and includes 19 parking spaces, an elevator, and on-site laundry. With all but one (1) unit subsidized through the CHA, Crestwood offers buyers the potential for durable, stable income supported by an established resident base. The property is well located near Interstate-290 (I-290) and the Austin CTA “L” Station (Green Line), providing for strong connectivity across the West Side and into Downtown Chicago.
Auction Platform Page: https://rimarketplace.com/auction/3034
Auction Platform Page: https://rimarketplace.com/auction/3034
Property Facts
| Price | $750,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $13,158 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Sale Condition | Distress Sale | Building Size | 51,300 SF |
| No. Units | 57 | Average Occupancy | 89% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 1930 |
| Zoning | RS-3 | ||
| Price | $750,000 |
| Price Per Unit | $13,158 |
| Sale Type | Investment |
| Sale Condition | Distress Sale |
| No. Units | 57 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 51,300 SF |
| Average Occupancy | 89% |
| No. Stories | 6 |
| Year Built | 1930 |
| Zoning | RS-3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 57 | - | 700 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $394,219 | |
| Land Assessment | $17,640 | Total Assessment | $411,859 |
Property Taxes
Parcel Numbers
Land Assessment
$17,640
Improvements Assessment
$394,219
Total Assessment
$411,859
Contacts
-
Matt Tarshis -
Andrew Rubin -
Andrew Slovis -
Zack Pearlstein -
Frontline Real Estate Partners
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Crestwood Apartments | 525 N Austin Blvd
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