1748 W North Ave, Chicago | 1748 W North Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
1748 W North Ave, Chicago 1748 W North Ave
7 Unit Apartment Building $4,400,000 ($628,571/Unit) 5.49% Cap Rate Chicago, IL 60622
Executive Summary
Fully rented and rarely available 7-unit elevator condo quality building in the heart of Bucktown. This well-maintained building is ready for the next investor to sit back and collect rent. Monthly gross income $29,641. Two commercial store front spaces with long term leases in place with leases ending in 2028. All residential units are 3 bedrooms, 2 bath condo quality units featuring large custom kitchen with granite countertops, stainless appliances, custom cabinets opening to living room and dining room. Three true bedrooms features primary bedroom with ensuite bathroom with double bowl stone countertops, and separate shower. Large second and third bedrooms along with updated second bath. Hardwood floors throughout. All units have separate HVAC, in-unit washer and dryer and all pay their own utilities. All residential finishes similar in all units. Unit 4W and 4E have interior unit stairs to access the private roof deck. Unit 3 is a full floor with huge front and rear terrace spaces to entertain. Unit 3 features three-bedroom, two full baths plus a half bath. Full floor unit 3 primary bath has double bowl sink, separate shower plus soaking tub. Photos are from unit 4W along with floorplan, 2W are identical to 4W. 2E, 4E units are the same as 4W layout just flipped. Unit 3 is a full floor see floorplan. Finishes in the building are all high end and similar throughout. Parking spaces in the rear of the building. A member of the LLC holds an Illinois real estate license. The listing broker is not a member of the LLC.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$355,694
|
$41.36
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$355,694
|
$41.36
|
| Taxes |
$57,309
|
$6.66
|
| Operating Expenses |
$57,032
|
$6.63
|
| Total Expenses |
$114,341
|
$13.30
|
| Net Operating Income |
$241,353
|
$28.06
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $355,694 |
| Annual Per SF | $41.36 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $355,694 |
| Annual Per SF | $41.36 |
| Taxes | |
|---|---|
| Annual | $57,309 |
| Annual Per SF | $6.66 |
| Operating Expenses | |
|---|---|
| Annual | $57,032 |
| Annual Per SF | $6.63 |
| Total Expenses | |
|---|---|
| Annual | $114,341 |
| Annual Per SF | $13.30 |
| Net Operating Income | |
|---|---|
| Annual | $241,353 |
| Annual Per SF | $28.06 |
Property Facts
| Price | $4,400,000 | Building Class | B |
| Price Per Unit | $628,571 | Lot Size | 0.13 AC |
| Sale Type | Investment or Owner User | Building Size | 8,600 SF |
| Cap Rate | 5.49% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2011 |
| Property Subtype | Apartment | Parking Ratio | 1.16/1,000 SF |
| Apartment Style | Mid Rise |
| Price | $4,400,000 |
| Price Per Unit | $628,571 |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.49% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 8,600 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2011 |
| Parking Ratio | 1.16/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $3,443 | 1,200 - 1,201 |
| Studios | 2 | $3,897 | 1,200 - 1,201 |
| 3+2 | 3 | $4,375 | 1,500 - 1,501 |
| 3+2 | 4 | $3,850 | 1,500 - 1,501 |
| 3+2.5 | 5 | $4,675 | 3,000 - 3,001 |
| 3+2 | 6 | $4,700 | 1,500 - 1,501 |
| 3+2 | 7 | $5,000 | 1,500 - 1,501 |
1 of 1
Walk Score ®
Walker's Paradise (94)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Biker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 14-31-428-055-0000 | Total Assessment | $271,000 |
| Land Assessment | $40,796 | Annual Taxes | $57,309 ($6.66/SF) |
| Improvements Assessment | $230,204 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
14-31-428-055-0000
Land Assessment
$40,796
Improvements Assessment
$230,204
Total Assessment
$271,000
Annual Taxes
$57,309 ($6.66/SF)
Tax Year
2023
zoning
| Zoning Code | C1-2 (Commercial) |
| C1-2 (Commercial) |
-
Pasquale Recchia -
@properties Commercial
1 of 13
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
1748 W North Ave, Chicago | 1748 W North Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.