$1,849,000

13 Bed, 7 Bath, Approx - Sq Ft

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This Gorgeous Greystone 4-unit building was completely gut-rehabbed in 2016 with all new plumbing, electric, high-efficiency HVAC systems, windows, roof, baths, kitchens, new hardwood floors, new walls, brand new garden level apartment, new porches and new brick garage as well. This building offers the perfect marriage of authentic Chicago Greystone exterior with all new construction interior, roof, porches, garage, mechanicals and systems. There is no deferred maintenance of any kind and the building should not need any capital investments for years to come. These condo-quality luxury apartments all have in-unit laundry and offer rarely available and easy to rent 4BR, 2BTH apartments. The building generates almost $13,000 per month in income when fully rented and includes internet for the entire building. Top three apartments all pay their own electric and gas and there is room to increase rents based on current rental amounts. Kitchens and baths are all new with high-end finishes including granite counters, stainless appliances, porcelain floor tiles & timeless subway tile in the bathrooms. 3 of the 4 units have private decks and there is an absolutely stunning common backyard patio with table, seating and grill. No expense was spared in the rehab of this building including extensive additional sound reduction in the engineering and build-out to prevent sound transmission from unit to unit and also in the windows of the building. This was done with the assistance of a sound engineer. Good security and lighting were also taken into consideration and the entire building is keyed to one master key for the owner/manager of the property for ease of access. The lower level was configured to have radiant heating if so desired and the garage was built to support installation of a roof-top deck in the future. This property would make an excellent owner-occupied building as well, and is already designed with an internal staircase connecting the 1st floor and garden apartment to create one, 5 BR, 3BTH owner's unit if so desired. This building does NOT set next to the "L" tracks and offers an easy-to-rent A+ Lincoln Park location for your investment with restaurants, shopping and transportation all right outside the building's door. Garden apartment has very high ceilings and its own private entrance but is a non-conforming unit. Building is currently certified for 3 apartments but 4th unit could potentially be approved under the city's new fast track approval of additional dwelling units.

Status: CLSD

Partner Agent

Tom Brown

Phone: 312-502-8213

Email: tb@sparrowrealty.us