Description
Endless opportunities in the heart of Lincoln Park with 860-862 W Lill Ave. Enjoy a potential 5.6 cap rate in this 8-unit condo deconversion opportunity or start from scratch and develop this double lot (50x125) in a prime location for new construction. Zoned RT-4, this condo association consists of 8 -1 bedroom condos (7 tenants/1 owner occupied generating $138,600 in gross yearly rent). Projected/Stabilazed yearly gross income $177,000. All units have central heat and in-unit washer/dryers. Almost all units sport hardwood floors and dishwashers and have seen recent updates. The residents share 6 exterior parking spaces on first come, first serve basis. Currently a self managed HOA, the association can be dissolved through the sale of the property allowing investors and developers to use their imagination. Financials are available upon request.
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Courtesy of: Berkshire Hathaway HomeServices Chicago Based on information submitted to the MRED as of date and time shown below. All data is obtained from various
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