1106 W Newport Ave
Chicago, IL 60657
Lakeview · Multifamily Property For Sale · 24 Units
INVESTMENT HIGHLIGHTS
- Renovated in 2020 with Beautiful Stainless Steel Appliances & Fixtures, Exposed Brick, Quartz Countertops, In-Unit Washer/Dryer
- Security & Adjacent Parking Lot
- Assumable Loan
EXECUTIVE SUMMARY
GREA along with Quadrel Commercial is pleased to present the exclusive offering of 1106 West Newport Avenue located at the NWC of Newport and Seminary in the heart of Chicago's dynamic Lakeview neighborhood and only blocks from Chicago's famed Wrigley Field.
The property is being offered at $12,150,000 with an assumable, non-recourse loan, offering a fixed interest rate of 3.61%.
The fully renovated three-story building contains 24 apartments homes featuring all the apartment amenities and infrastructure upgrades exhibited in a ground-up development.
The unit mix of two, three and four-bedroom apartments, averaging a very comfortable 1,038 square feet, appeals to the younger renter age cohort which accounts for 47% of Lakeview’s population. The property is within walking distance to a proliferation of diverse and eclectic dining options, recreation and open space attractions, shopping, parks, entertainment establishments, and public transportation.
The property is being offered at $12,150,000 with an assumable, non-recourse loan, offering a fixed interest rate of 3.61%.
The fully renovated three-story building contains 24 apartments homes featuring all the apartment amenities and infrastructure upgrades exhibited in a ground-up development.
The unit mix of two, three and four-bedroom apartments, averaging a very comfortable 1,038 square feet, appeals to the younger renter age cohort which accounts for 47% of Lakeview’s population. The property is within walking distance to a proliferation of diverse and eclectic dining options, recreation and open space attractions, shopping, parks, entertainment establishments, and public transportation.
PROPERTY FACTS
| Price Per Unit | $506,250 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 24,900 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1919/2020 |
| Parking Ratio | 0.28/1,000 SF |
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 12 | - | 750 - 900 |
| 3+3 | 6 | - | 1,400 |
| 4+3 | 6 | - | 1,700 |
PROPERTY TAXES
| Parcel Number | 14-20-408-025-0000 | Improvements Assessment | $312,100 |
| Land Assessment | $232,500 | Total Assessment | $544,600 |
