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920 W Oakdale Ave 31 Unit Apartment Building $16,300,000 ($525,806/Unit) 6.28% Cap Rate Chicago, IL 60657
INVESTMENT HIGHLIGHTS
- Centrally Located in One of Chicago's Best Neighborhoods
- All Units Have Individual HVAC and In-Unit Laundry
- Approximately 6% Average Rent Growth in 2025
- Fully Renovated in 2018 with New Building Systems and Unit Finishes
- On-Site Fitness Center
EXECUTIVE SUMMARY
Interra Realty has been exclusively engaged to market 920 W. Oakdale Avenue, Chicago, for sale. The subject investment property is a rarely available, 31 unit courtyard multifamily asset in the heart of Chicago's Lakeview Neighborhood.
The property was fully gut renovated in 2018. The renovation included all new systems, extensive envelope improvements, and modern unit finishes. All units feature individual HVAC and in-unit laundry equipment. Tenants also have access to an on-site fitness center.
Ownership has renewed or relet over 85 percent of the rent roll and achieved 6.26% percent rent growth on average. With very limited new supply scheduled to be delivered in Lakeview in the coming years, the rent roll is poised to continue to see strong growth.
A new investor has the rare opportunity to acquire a fully-renovated courtyard building in the desirable Lakeview neighborhood with a healthy and growing rent roll.
The property was fully gut renovated in 2018. The renovation included all new systems, extensive envelope improvements, and modern unit finishes. All units feature individual HVAC and in-unit laundry equipment. Tenants also have access to an on-site fitness center.
Ownership has renewed or relet over 85 percent of the rent roll and achieved 6.26% percent rent growth on average. With very limited new supply scheduled to be delivered in Lakeview in the coming years, the rent roll is poised to continue to see strong growth.
A new investor has the rare opportunity to acquire a fully-renovated courtyard building in the desirable Lakeview neighborhood with a healthy and growing rent roll.
PROPERTY FACTS Under Contract
| Price | $16,300,000 | Property Subtype | Apartment |
| Price Per Unit | $525,806 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.28% | Lot Size | 0.29 AC |
| Gross Rent Multiplier | 12.12 | Building Size | 23,485 SF |
| No. Units | 31 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2018 |
| Zoning | RT-4 | ||
| Price | $16,300,000 |
| Price Per Unit | $525,806 |
| Sale Type | Investment |
| Cap Rate | 6.28% |
| Gross Rent Multiplier | 12.12 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 23,485 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1920/2018 |
| Zoning | RT-4 |
AMENITIES
UNIT AMENITIES
- Balcony
- Washer/Dryer
SITE AMENITIES
- Fitness Center
- Package Service
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 12 | - | - |
| 2+2 | 1 | - | - |
| 3+2 | 5 | - | - |
| 3+3 | 2 | - | - |
| 4+2 | 2 | - | - |
| 4+3 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (85)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 14-29-217-016-0000 | Improvements Assessment | $252,267 |
| Land Assessment | $222,633 | Total Assessment | $474,900 |
PROPERTY TAXES
Parcel Number
14-29-217-016-0000
Land Assessment
$222,633
Improvements Assessment
$252,267
Total Assessment
$474,900
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920 W Oakdale Ave
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