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East Garfield Park Portfolio 3 Multifamily Properties Offered at $3,750,000 in Chicago, IL
INVESTMENT HIGHLIGHTS
- Current / Stabilized Cash-on-Cash: 11.60% / 19.08%
- Significantly Reduced Property Taxes for Up to 30 Years Through AHSAP
- Close Proximity to The 1901 Project, the $7B+ Redevelopment of the United Center District
- Assumable Debt at 4.95% Interest, Fixed Through August 2032
- Complete Gut Renovations in 2021, Featuring Consistent, High-Quality Finishes and Building Systems Across All Three Buildings
EXECUTIVE SUMMARY
Essex Realty Group, LLC has been exclusively engaged to market for sale a fully renovated,24-unit multifamily portfolio consisting of three properties located in Chicago’s East
Garfield Park neighborhood: 20 S. Hamlin Ave., 4114-16 W. West End Ave., and 530 N. Hamlin Ave. Each property underwent a complete and consistent gut renovation in 2021,
transforming the buildings into high-quality, low-maintenance, turn-key investment assets.
An investor has the opportunity to assume the existing financing, which consists of a fixed-rate loan at 4.95% with a maturity date of August 2032. This below-market interest rate offers a new owner the opportunity to secure long-term fixed debt, resulting in significantly above-market cash flows and overall investment returns.
Each unit was completely updated with new electrical, plumbing, and HVAC systems. Interior finishes include GE stainless steel appliances, in-unit washer/dryers, porcelain and
luxury vinyl tile (LVT) flooring, and open, functional layouts. The portfolio offers a mix of one, two, and three-bedroom units, with 4114-16 W. West End Ave. and 20 S. Hamlin Ave.
also featuring onsite parking.
This offering presents investors with a rare opportunity to acquire three fully renovated, stabilized multifamily assets with immediate in-place cash flow and minimal future capital requirements. Ideally located just four miles west of downtown Chicago, East Garfield Park offers excellent connectivity via the CTA Green and Blue Lines, multiple bus routes, and I-290. The properties are positioned near the Illinois Medical District and the rapidly growing West Loop and Fulton Market neighborhoods, making this an exceptional opportunity to invest in one of Chicago’s most dynamic and evolving submarkets.
Garfield Park neighborhood: 20 S. Hamlin Ave., 4114-16 W. West End Ave., and 530 N. Hamlin Ave. Each property underwent a complete and consistent gut renovation in 2021,
transforming the buildings into high-quality, low-maintenance, turn-key investment assets.
An investor has the opportunity to assume the existing financing, which consists of a fixed-rate loan at 4.95% with a maturity date of August 2032. This below-market interest rate offers a new owner the opportunity to secure long-term fixed debt, resulting in significantly above-market cash flows and overall investment returns.
Each unit was completely updated with new electrical, plumbing, and HVAC systems. Interior finishes include GE stainless steel appliances, in-unit washer/dryers, porcelain and
luxury vinyl tile (LVT) flooring, and open, functional layouts. The portfolio offers a mix of one, two, and three-bedroom units, with 4114-16 W. West End Ave. and 20 S. Hamlin Ave.
also featuring onsite parking.
This offering presents investors with a rare opportunity to acquire three fully renovated, stabilized multifamily assets with immediate in-place cash flow and minimal future capital requirements. Ideally located just four miles west of downtown Chicago, East Garfield Park offers excellent connectivity via the CTA Green and Blue Lines, multiple bus routes, and I-290. The properties are positioned near the Illinois Medical District and the rapidly growing West Loop and Fulton Market neighborhoods, making this an exceptional opportunity to invest in one of Chicago’s most dynamic and evolving submarkets.
PROPERTY FACTS
| Price | $3,750,000 | Number of Properties | 3 |
| Price / SF | $129.77 / SF | Individually For Sale | 0 |
| Cap Rate | 7.61% | Total Building Size | 28,898 SF |
| Sale Type | Investment | Total Land Area | 0.52 AC |
| Status | Active |
| Price | $3,750,000 |
| Price / SF | $129.77 / SF |
| Cap Rate | 7.61% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 28,898 SF |
| Total Land Area | 0.52 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 20 S Hamlin Blvd, Chicago, IL 60624 | Multifamily | 13,308 SF | 1980 | - |
| 4116 W West End Ave, Chicago, IL 60624 | Multifamily | 9,390 SF | 1905 | - |
| 3803-3809 W Ohio St, Chicago, IL 60624 | Multifamily | 6,200 SF | 1909 | - |
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East Garfield Park Portfolio
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