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$ 1,290,000
Est. payment | /mo
$ 1,290,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12430995
Maintenance Fees $1,500
Year Built 1901
Annual Tax Amount $17,090
Tax Year 2023
Lot Dimensions 4966
Property Sub-Type Multi Family 5+
Property Description
Rare opportunity to acquire a renovated multifamily building in the heart of Uptown, one of Chicago's most vibrant and transit-oriented neighborhoods. Renovated in the past 10 years, the property features six modern residential units with individual HVAC and efficient layouts. This investment offers stable income with significant immediate upside for the next owner. The partially finished basement also provides the potential for a 7th unit as a 2-bedroom accessory dwelling unit (ADU). In-place rents are below market averages, promising substantial upside. With the grand reopening of the Lawrence Red Line station after a four-year, multibillion-dollar reconstruction, tenant demand is expected to rise significantly. The improved accessibility to public transportation, combined with the property's proximity to Uptown's entertainment district and lakefront amenities, positions it perfectly for strong rent growth potential and long-term appreciation. The building is ideally situated next to a brand-new public park and steps from iconic venues like the Aragon Ballroom, Riviera Theatre, and Green Mill Lounge. The popularity of these venues drives consistent demand for off-street parking, creating an additional income opportunity via platforms like SpotHero. The neighborhood's walkability, easy access to Lake Shore Drive, and thriving retail and dining scene make this a prime investment opportunity.
Location
State IL
County Cook
Area Chi - Uptown
Interior
Cooling Window Unit(s)
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 3
Structure Type Brick
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Matthew Fritzshall • Triton Realty Group LLC
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Alan Berlow
REALTOR | Lic# 475125930