Language and Region
Currency

This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

909 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Turnkey 18 Unit Building in North Lawndale 1256 S Independence Blvd

18 Unit Apartment Building $2,558,412 CAD ($142,134 CAD/Unit) 10.95% Cap Rate Chicago, IL 60623

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Executive Summary

CASh ONLY. SOLD AS-IS, with Violations. Estimated cost to complete violations $50,000 This is a fantastic opportunity to acquire a partially gut-rehabbed building located on Independence Boulevard right in the up-and-coming neighborhood of North Lawndale. This 18-unit building offers a great unit mix of 2,3 and 4-bedroom units. All units are individually metered and offer very spacious layouts. The building has 12 units of 2BR/1BA, 3 units of 3BR/1BA and 3 units of 4BR/1BA. The basement has a coin laundry room with 3 washers and 3 dryers. Security cameras have been installed around the building. 8 units have been upgraded in the last year. Each unit has its own gas meter, water heater, and electric meter. For investors looking for a value add, there is space to add 6 more garden units. The current monthly rent roll is over $22,000 with 90% occupancy.

Financial Summary (Actual - 2023) Click Here to Access	Annual (CAD)	Annual Per SF (CAD)
Gross Rental Income	$99,999	$9.99
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$99,999	$9.99
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$99,999	$9.99
Net Operating Income	$99,999	$9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income (CAD)
Annual	$99,999
Annual Per SF	$9.99

Other Income (CAD)
Annual	-
Annual Per SF	-

Vacancy Loss (CAD)
Annual	-
Annual Per SF	-

Effective Gross Income (CAD)
Annual	$99,999
Annual Per SF	$9.99

Taxes (CAD)
Annual	-
Annual Per SF	-

Operating Expenses (CAD)
Annual	-
Annual Per SF	-

Total Expenses (CAD)
Annual	$99,999
Annual Per SF	$9.99

Net Operating Income (CAD)
Annual	$99,999
Annual Per SF	$9.99

Property Facts

Price	$2,558,412 CAD	Building Class	C
Price Per Unit	$142,134 CAD	Lot Size	0.21 AC
Sale Type	Investment	Building Size	18,000 SF
Cap Rate	10.95%	Average Occupancy	90%
No. Units	18	No. Stories	3
Property Type	Multifamily	Year Built/Renovated	1909/2023
Property Subtype	Apartment	Parking Ratio	0.78/1,000 SF
Apartment Style	Low Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$2,558,412 CAD
Price Per Unit	$142,134 CAD
Sale Type	Investment
Cap Rate	10.95%
No. Units	18
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.21 AC
Building Size	18,000 SF
Average Occupancy	90%
No. Stories	3
Year Built/Renovated	1909/2023
Parking Ratio	0.78/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.