1470 W Huron St
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1470 W Huron St
6 Unit Apartment Building $1,400,000 ($233,333/Unit) 6.55% Cap Rate Chicago, IL 60642
Investment Highlights
- Extremely Well-Cared-For Vintage Apartment Property
- Modern Utilities Systems Throughout
- Heart of Noble Square, blocks from nearby L Station, Bus Stops, and West Loop
- Unit Mix: Three (3) 1 Bed/1 Baths & Three (3) 2 Bed/1 Baths
- Same Ownership for Almost 30 Years
Executive Summary
1470 W. Huron St., a beautifully maintained 6-unit apartment building in the Heart of Noble Square, has been engaged to market for sale. Recent tuckpointing as well as a major cornice restoration are each part of the property's tremendous curb appeal. Notably, the property has been under the same ownership for almost 30 years. It was also completely gut rehabbed in 1996, bringing all new modern utilities to and throughout the property at that time.
The Subject Property is comprised of three (3) 2 Bed/1 Bath and three (3) 1 Bed/1 Bath apartments and includes three (3) exterior parking spaces in the rear. Each unit features a thoughtful floorplan with true wood flooring, a mix of stainless steel and white appliances appliances, dishwashers, central heat, and access to laundry in the basement. The property also features a large rear porch and a private hardscaped yard that each tenant can access and enjoy. An opportunity exists for an investor to increase rents with limited work to each of the units or significantly with a couple of minor upgrades.
The building is ideally situated on the north side of Huron Street just east of Ashland Avenue, and is conveniently less than a mile from both the Chicago & Division L Stations, making this an excellent location within the West Town neighborhood. Quick access to the CTA Blue Line Station and 90/94 expressway, along with several bus stops, offers tenants many excellent transportation options. 1470 West Huron is a rare opportunity to acquire an exceptionally maintained vintage building in a prime West Town location.
The Subject Property is comprised of three (3) 2 Bed/1 Bath and three (3) 1 Bed/1 Bath apartments and includes three (3) exterior parking spaces in the rear. Each unit features a thoughtful floorplan with true wood flooring, a mix of stainless steel and white appliances appliances, dishwashers, central heat, and access to laundry in the basement. The property also features a large rear porch and a private hardscaped yard that each tenant can access and enjoy. An opportunity exists for an investor to increase rents with limited work to each of the units or significantly with a couple of minor upgrades.
The building is ideally situated on the north side of Huron Street just east of Ashland Avenue, and is conveniently less than a mile from both the Chicago & Division L Stations, making this an excellent location within the West Town neighborhood. Quick access to the CTA Blue Line Station and 90/94 expressway, along with several bus stops, offers tenants many excellent transportation options. 1470 West Huron is a rare opportunity to acquire an exceptionally maintained vintage building in a prime West Town location.
Data Room Click Here to Access
- Offering Memorandum
Property Facts Under Contract
Price | $1,400,000 | Property Subtype | Apartment |
Price Per Unit | $233,333 | Building Class | C |
Sale Type | Investment | Lot Size | 0.10 AC |
Cap Rate | 6.55% | Building Size | 4,257 SF |
Gross Rent Multiplier | 9.96 | Average Occupancy | 100% |
No. Units | 6 | No. Stories | 3 |
Property Type | Multifamily | Year Built | 1883 |
Price | $1,400,000 |
Price Per Unit | $233,333 |
Sale Type | Investment |
Cap Rate | 6.55% |
Gross Rent Multiplier | 9.96 |
No. Units | 6 |
Property Type | Multifamily |
Property Subtype | Apartment |
Building Class | C |
Lot Size | 0.10 AC |
Building Size | 4,257 SF |
Average Occupancy | 100% |
No. Stories | 3 |
Year Built | 1883 |
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Walk Score ®
Walker's Paradise (96)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
Parcel Number | 17-08-109-019-0000 | Improvements Assessment | $60,024 |
Land Assessment | $18,450 | Total Assessment | $78,474 |
PROPERTY TAXES
Parcel Number
17-08-109-019-0000
Land Assessment
$18,450
Improvements Assessment
$60,024
Total Assessment
$78,474
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1470 W Huron St
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