Lakeview Neighborhood of Chicago 2-Unit with Duplexed Units

[Fernando Angelucci]

We have available for immediate assignment a beautiful 3 story brick building in the highly desirable part of Lakeview. Currently the building has the top unit duplexed and the bottom unit as a single floor with the possibility of finishing the basement to create two duplexed units in addition to adding a roof top deck in addition to the existing garage roof top deck. Each floor contains roughly 1,400 square feet and massive ceilings. There are many options for this property but we believe converting into 2 duplexed condos would result in the highest ROI. Email me for the showing time.

1016 W Oakdale Ave, Chicago, IL 60657

Price: $1.1M

Rehab: $450K

ARV: $2.1M

Gross ROI: 35%

Current Setup

Top Duplexed Unit: 4 bedrooms, 3 bathrooms, ~2,400 sq. ft.

Bottom Unit: 3 bedrooms, 1 bathroom, ~1,210 sq. ft.

Basement: 1,210 sq. ft.

Lot Size: 25x125

Garage: 2-car with Rooftop Deck

Taxes: $14K

VIDEOS & PHOTOS: https://www.dropbox.com/sh/01b1lsvzswpcuib/AABSVj5ZDHlLm0kwkzblvQ1ba?dl=0

FLOOR PLANS & COMPS: https://www.dropbox.com/sh/shbrqvq00ea4lp9/AAB1OWDoZulWpCaS82MqQoasa?dl=0

Details: We view the best route to proceed is to raise the floor of the bottom unit about a foot and to then shave the basement floor down6 inches to get to 8’ to 8’6” ceilings in the basement to allow you to duplex down the bottom unit. The best floor plan would be to have 4 bedrooms and 3 to 3.5 baths per duplex.

The deal goes to the first person to sign the assignment of contract and remit the assignment fee. If you are a wholesaler and are interested in marketing this property, you need to ask for our explicit approval before doing so. We will conduct one group showing unless the deal sells sight unseen.