McGill Terrace Apartments | 821 E 49th St
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McGill Terrace Apartments 821 E 49th St
48 Unit Apartment Building $8,968,300 CAD ($186,840 CAD/Unit) 7.12% Cap Rate Chicago, IL 60615
INVESTMENT HIGHLIGHTS
- UNIT MIX: 12 Studio, 24 One-Bedroom/One-Bath, Six Two-Bedroom/One-Bath, Six Three-Bedroom/Two-Bath
- HAP CONTRACT: Rental income is very consistent and roughly 80% subsidized by HUD’s section 8 rental assistance program
- BUILDING FEATURES: On-Site Laundry, Individually Metered Utilities
- include a new roof, updated mechanical systems, and an array of interior cosmetic improvements.
PROPERTY FACTS
| Price | $8,968,300 CAD | Property Subtype | Apartment |
| Price Per Unit | $186,840 CAD | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.12% | Lot Size | 0.49 AC |
| Gross Rent Multiplier | 7.52 | Building Size | 35,022 SF |
| No. Units | 48 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1916/2023 |
| Price | $8,968,300 CAD |
| Price Per Unit | $186,840 CAD |
| Sale Type | Investment |
| Cap Rate | 7.12% |
| Gross Rent Multiplier | 7.52 |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 35,022 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1916/2023 |
UNIT AMENITIES
- Tile Floors
- Refrigerator
- Carpet
SITE AMENITIES
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | - |
| 1+1 | 24 | - | - |
| 2+1 | 6 | - | - |
| 3+2 | 6 | - | - |
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Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 20-11-109-009-0000 | Improvements Assessment | $480,788 CAD |
| Land Assessment | $108,950 CAD | Total Assessment | $589,738 CAD |
PROPERTY TAXES
Parcel Number
20-11-109-009-0000
Land Assessment
$108,950 CAD
Improvements Assessment
$480,788 CAD
Total Assessment
$589,738 CAD
ZONING
| Zoning Code | RM-5 |
| RM-5 |
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McGill Terrace Apartments | 821 E 49th St
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