$4,500,000
7314 N Winchester Ave, Chicago, IL 60626
Current Rent **
$10,000+
Projected Rent **
$10,000+
HOT North Side Chicago 20-Unit
List Price
$4,500,000
Property Type
Multifamily
Current Rents
$410,472
In Place NOI
$301,579
Target CAP Rate
6.7%
Today's Market Value
$6,000,000
Price / Unit
$225,000
Units
20
Pro Forma Rents
$564,397
Projected NOI
$445,795
Market CAP Rate
5%
Value w/Market Rents
$8,900,000
About The Property
The building contains 20 spacious 2 story units consisting of nine 3-bedroom/2.5 bath units, ten 2-bedroom/1 bath units and one 2-bedroom/2 bath. Each unit has been meticulously updated to modern design, boasting features such as FRESH PAINT, STONE COUNTERTOPS, RENOVATED BATHROOMS, CERAMIC TILE AND BEAUTIFULLY STAINED WOOD FLOORING, IN UNIT WASHER/DRYERS, CENTRAL HVAC/CENTRAL HEATING. Each apartment also has ITS OWN BALCONY FACING A PRIVATE COURTYARD. Each unit has it’s own gas meter for heating/cooking. This building has been cared for, is CHA compliant, is already a cash cow with room to increase income.
About The Neighborhood
Rogers Park is a vibrant and diverse neighborhood located on the North Side of Chicago, known for its unique cultural mix, beautiful lakefront, and strong sense of community. Rogers Park offers a dynamic and inviting atmosphere, characterized by a blend of architectural styles, including vintage apartments, historic homes, and modern condominiums. The community is known for its artistic and creative scene, with several theaters, galleries, and music venues that host performances and exhibitions throughout the year. Loyola University Chicago, a prominent educational institution, is also situated within Rogers Park, contributing to the area's academic and youthful energy.
List Broker: Phu Nguyen, Citypoint Illinois LLC
Phone: 312-543-4930
Email: [email protected]
https://citypoint.com/property/hot-off-market-20-unit/
Location:
7314 N Winchester Ave, Chicago, IL 60626
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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