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6600-6602 N Clark St 12 Unit Apartment Building $2,295,000 ($191,250/Unit) 4.86% Cap Rate Chicago, IL 60626
INVESTMENT HIGHLIGHTS
- Rare find, amazing legacy building with 10 residential apartments and 2 storefront retail/office spaces.
- Each of the residential apartments are all being used at 2 bedroom/ 1 bathroom units all with hardwood floors.
- The second store front recently became vacant; a "vanilla box" ready for the next tenant.
- Building is fully occupied with no issues with vacancy and long term tenants due to the great location and condition of the building and units.
- One of the commercial storefronts is a long time accounting firm who wants to stay on for a year or two with the new owner.
- This building has very little deferred maintenance, great condition and a longtime owner who is ready to retire soon.
EXECUTIVE SUMMARY
Rare find, amazing legacy building with 10 residential apartments and 2 storefront retail/office spaces. Building is fully occupied with no issues with vacancy and long term tenants due to the great location and condition of the building and units. Each of the residential apartments are all being used at 2 bedroom/ 1 bathroom units all with hardwood floors. One of the commercial storefronts is a long time accounting firm who wants to stay on for a year or two with the new owner. The second store front recently became vacant; a "vanilla box" ready for the next tenant. This building has very little deferred maintenance, great condition and a longtime owner who is ready to retire soon. Offering Memorandum could be provided with request.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$165,000
|
$10.68
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$165,000
|
$10.68
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$53,449
|
$3.46
|
| Net Operating Income |
$111,551
|
$7.22
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $165,000 |
| Annual Per SF | $10.68 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $165,000 |
| Annual Per SF | $10.68 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $53,449 |
| Annual Per SF | $3.46 |
| Net Operating Income | |
|---|---|
| Annual | $111,551 |
| Annual Per SF | $7.22 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Heating
- Security System
- Crown Molding
- Kitchen
- Hardwood Floors
- Oven
- Range
- Tub/Shower
- Carpet
- Linen Closet
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Security System
- Vintage Building
- Storage Space
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (70)
Bike Score®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 11-31-412-034-0000 | Improvements Assessment | $133,623 (2024) |
| Land Assessment | $28,778 (2024) | Total Assessment | $162,401 (2024) |
PROPERTY TAXES
Parcel Number
11-31-412-034-0000
Land Assessment
$28,778 (2024)
Improvements Assessment
$133,623 (2024)
Total Assessment
$162,401 (2024)
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6600-6602 N Clark St
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