7125 W Addison Street Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60634
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12151750
Year Built 1974
Annual Tax Amount $13,753
Tax Year 2023
Lot Dimensions 40 X 125
Property Description
Original owners decided it's time to sell. All units are above grade. No garden units! This beautiful yellow brick building is being offered for sale for the first time in 50 years! This high visibility prime corner location offers more parking for tenants as well as more sunlight and an overall open and more comfortable feel! There are 6 parking spaces in the rear off the alley that are sizable and easy to access. The unit mix is comprised of 6 units in total with 5 being 2 bedrooms and 1 bath and 1 unit having 1 bedroom and 1 bath. As you can imagine these rents are very low due to the long time owners and long time tenants. Do your own math and you will be impressed at how much the NOI will change with only a modest rent increase. All tenants are on a month to month lease. Building was newly tuckpointed 3 years ago! Market rents for the 2 bedroom units $1500-$1800 and for the 1 bedroom unit $1150-$1400. See pro forma under additional information using the low end of market rents. This quality 6 unit building is a huge win for your portfolio!
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Wall Sleeve
Fireplace Y
Exterior
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick,Concrete