Description
Stable 6-unit mixed-use building in the heart of East Humboldt Park, immediately west of Wicker Park. Entire building was completely gut renovated in 2018. New commercial lease through 11/30/2027 with annual rent increases and one 5-year renewal option. All apartments were gut renovated and feature a mix of 1, 2 and 3 bedroom units, ideal reconfigured layouts, in-unit laundry, central HVAC, hardwood floors throughout, high-end finishes. 2-car parking pad in back. Separately metered utilities and electric panels in-unit. Bundled services plan has been implemented which includes Comcast internet for residents. List price reflects 5.9% in-place cap rate with ability to move apartment rents to 6.35% cap rate. Annual retail rent increases will continue to push the cap rate up. Turnkey investment in a great location.
Location
Based on information submitted to the MRED as of date and time shown below. All data is obtained from various
sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change
without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the
office/agent presenting the information. © 2022. http://www.mredllc.com/comms/resources/DMCA_Notice.pdf Updated: 8th June, 2023 3:46 PM (UTC)
sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change
without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the
office/agent presenting the information. © 2022. http://www.mredllc.com/comms/resources/DMCA_Notice.pdf Updated: 8th June, 2023 3:46 PM (UTC)
Listing Office: Campbell Street Asset Management Inc
Attribution contact: 773-830-1485
