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38 N Central Ave
Chicago, IL 60644
Multifamily Property For Sale · 39 Units
PROPERTY FACTS
| No. Units | 39 | Building Size | 24,350 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Low Rise | Year Built | 1966 |
| Building Class | C | Parking Ratio | 1.07/1,000 SF |
| Lot Size | 0.31 AC |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 24,350 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1966 |
| Parking Ratio | 1.07/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
Site Amenities
- Laundry Facilities
- Security System
About 38 N Central Ave , Chicago, IL 60644
The building has a history of high occupancy with many long term residents residing on the premises for several years. One of the studio apartments on the first floor of the complex close to the atrium is currently being used as a management office. Current ownership is installing new circuit breakers in each unit. The building is serviced by a Peerless hot water boiler and a 250 gallon standard steel hot water tank in the basement. In 2017 a roof overlay was completed. Residents of 38 N. Central have access to two washers and dryers in the basement. Currently, the property has multiple security cameras that are fully operational. The majority of the units are in vintage condition. 38 N. Central presents a new investor the opportunity to acquire a fully leased multifamily asset with the opportunity to create value by renovating units and raising rents to market levels to achieve maximum levels of return. Other opportunities to increase revenue consist of updating the washer/dryer facility and utilizing the 16 covered parking spaces under the building.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 17 | $700.00 | 400 - 650 |
| 1+1 | 22 | $720.00 | 750 - 800 |
PROPERTY TAXES
| Parcel Number | 16-08-423-030-0000 | Improvements Assessment | $354,257 |
| Land Assessment | $23,006 | Total Assessment | $377,263 |
PROPERTY TAXES
zoning
| Zoning Code | RM-5, Chicago (Multi-Family) |
| RM-5, Chicago (Multi-Family) |
