1210-1216 W Diversey Pky
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1210-1216 W Diversey Pky
3 Unit Apartment Building $1,575,000 ($525,000/Unit) Chicago, IL 60614
Investment Highlights
- Lakeview/Lincoln Park
- Rents are 12% below market for comparable properties
- 0.3 miles to Diversey CTA train, 1.0 mile to Lake Michigan, Trader Joes and DePaul 0.5 miles
- Beermiscuious retail tenant with 5 years remaining on term and 3% annual increases, been operating here since 2013
Executive Summary
Kiser Group has been exclusively engaged to market for sale 1216 W. Diversey / 2812 N. Lincoln, a 4-unit mixed-use wrap around building. The property is located in Lakeview/Lincoln Park's 6-corner intersection and features two frontages - on both Diversey and Lincoln. Situated on the border of two of the most popular Chicago neighborhoods: Lakeview and Lincoln Park.
The unit mix is comprised of three (3) 3 bed / 1 bath apartments and one (1) ground floor retail space. The apartments were renovated in 2012 and feature kitchens with granite countertops, stainless steel appliances and individual HVAC and hot water tanks. The ground floor retail tenant is a well-established tap room - Beermiscuous - who has operated in this location since 2013 and has 5 years remaining with 3% annual increases. The retail space is built out with lofted ceilings, modern tiling and hardwood floors throughout.
1216 W. Diversey / 2812 N. Lincoln offers the opportunity to acquire a well-located asset with opportunity to grow apartment rents as they are 12% below market. Situated 0.3 miles to CTA Brown/Purple lines, 0.1 miles to Lake Michigan, 0.5 miles to DePaul's campus, this acquisition provides consistent demand in a continuously changing market.
The unit mix is comprised of three (3) 3 bed / 1 bath apartments and one (1) ground floor retail space. The apartments were renovated in 2012 and feature kitchens with granite countertops, stainless steel appliances and individual HVAC and hot water tanks. The ground floor retail tenant is a well-established tap room - Beermiscuous - who has operated in this location since 2013 and has 5 years remaining with 3% annual increases. The retail space is built out with lofted ceilings, modern tiling and hardwood floors throughout.
1216 W. Diversey / 2812 N. Lincoln offers the opportunity to acquire a well-located asset with opportunity to grow apartment rents as they are 12% below market. Situated 0.3 miles to CTA Brown/Purple lines, 0.1 miles to Lake Michigan, 0.5 miles to DePaul's campus, this acquisition provides consistent demand in a continuously changing market.
Property Facts
| Price | $1,575,000 | Apartment Style | Low Rise |
| Price Per Unit | $525,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| No. Units | 3 | Building Size | 19,622 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1923 |
| Price | $1,575,000 |
| Price Per Unit | $525,000 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 19,622 SF |
| No. Stories | 3 |
| Year Built | 1923 |
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Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (77)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $166,572 | |
| Land Assessment | $70,279 | Total Assessment | $236,851 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$70,279
Improvements Assessment
$166,572
Total Assessment
$236,851
zoning
| Zoning Code | B3-3, Chicago (Shopping centers, large stores, and retail storefronts, often along major streets) |
| B3-3, Chicago (Shopping centers, large stores, and retail storefronts, often along major streets) |
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1210-1216 W Diversey Pky
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