902 W. Newport Ave 902 W Newport Ave 3 Unit Apartment Building $1,525,000 ($508,333/Unit) 5.96% Cap Rate Chicago, IL 60657

Discover an exceptional investment opportunity or the perfect single-family conversion in this stately, rehabbed Greystone located in Chicago's sought-after Wrigleyville/Lakeview community. Situated on the historic Newport Avenue District-a landmark block renowned for its beautiful, intact stone-fronted three-flats-this building offers a classic Chicago experience with modern amenities. The building is comprised of three well maintained units. The top-floor, duplex-up owner's unit offers the scale and comfort of a single-family home. Spanning the second and third floors, it features an open-concept main level with a chef's kitchen, 2 private rear decks, and a spacious en suite bedroom. The upper level includes a primary suite with skylights and an in-unit laundry. The true highlight is the rare private 27'x22' rooftop deck, perfect for entertaining with stunning city skyline views. The first-floor unit is a bright and spacious 3-bedroom, 2-bath with soaring windows, tall ceilings, and a large, open kitchen. This unit has it's open private rear deck and direct access to the expansive 20'x19' deck above the garage. The garden unit, a bright 2-bedroom, 1-bath, offers direct access to the generous brick-paved backyard. This property has been cared for by the live-in owner for 30 years, with significant updates including plumbing and electrical, tuckpointing (2016), a new roof (2015), and premium windows (2020). Parking for three cars adds significant value. Currently configured as a high-income three-flat, the building generates a total annual income of $117,600 with a net operating income of $90,822, representing a consistent 6% CAP rate with room for growth. This is a remarkable opportunity for a live-in owner to generate a large income stream while building equity, a long-term investor seeking a strong return, or a developer looking to convert it into a magnificent single-family home. Located in the desirable Nettlehorst Elementary School District, this property is just steps from Wrigley Field, shopping, dining, and a short walk to the "L" train and Lake Michigan. Don't miss this chance to own a piece of classic Chicago in an unbeatable location.