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Additional details
$ 3,850,000
Est. payment | /mo
$ 3,850,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12287426
Maintenance Fees $2,887
Year Built 1920
Annual Tax Amount $28,916
Tax Year 2023
Lot Dimensions 56X125
Property Sub-Type Multi Family 5+
Property Description
Rarely available and offered for the first time in over 50 years, this meticulously maintained 16-unit building in the sought-after East Albany Park/Ravenswood Manor neighborhood presents an exceptional investment opportunity. Lovingly cared for by the same family for decades, the property is fully leased and ideal for seasoned investors or owner-operators alike. The property includes a diverse mix of units: three spacious 3-bedroom/1-bath apartments, four comfortable 2-bedroom/1-bath apartments, and nine generously sized "jumbo" 1-bedroom/1-bath apartments. All but one unit features a separate, formal dining room, while six of the jumbo units also include versatile enclosed sunroom/storage spaces, providing additional appeal and functionality. A strong sense of pride in ownership is evident throughout, showcased by immaculate common areas, sturdy and well-maintained porch systems, recent comprehensive tuckpointing, and a quality roof. Residents enjoy numerous amenities, including an on-site coin-operated laundry facility, dedicated bicycle storage, secure individual storage lockers, and additional workroom spaces with potential for generating extra income. Each apartment is equipped with its own gas-forced furnace and boasts beautiful hardwood floors, ensuring tenant comfort, independence, and reduced operating costs for owners. Approximately 75% of the units have been thoughtfully updated with quartz countertops, many also featuring contemporary stainless steel appliances and modern bathroom fixtures. The remaining units offer straightforward cosmetic upgrade opportunities, allowing the new owner to easily increase rents and maximize the property's financial potential. Ideally situated just steps from the Francisco Brown Line station and conveniently close to the Kennedy (I-90/94) Expressway, this prime location provides easy access to Lincoln Square, the scenic North Branch of the Chicago River, popular Horner Park, and an array of vibrant local shops and restaurants. Positioned in a rapidly appreciating neighborhood, this classic Chicago architectural gem promises both immediate stability and outstanding future growth potential. This property represents a rare and significant investment opportunity. Don't miss your chance-reach out today for additional information or to arrange your private showing.
Location
State IL
County Cook
Area Chi - Albany Park
Zoning MULTI
Rooms
Basement Unfinished
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Utilities Available Sewer Connected
Building
Dwelling Type Multi Family 5+
Level or Stories 3
Structure Type Brick
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Listed by Paul Frischer • Berkshire Hathaway HomeServices Chicago