2217 W Madison | 2217 W Madison St
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2217 W Madison 2217 W Madison St
46 Unit Apartment Building $13,999,000 ($304,326/Unit) 6.16% Cap Rate Chicago, IL 60612
Investment Highlights
- 46-UNIT STABILIZED MULTIFAMILY INVESTMENT OPPORTUNITY
Executive Summary
46-unit multifamily asset in the rapidly developing neighborhood of United Center/Near West Side in Chicago, IL.
The property is approximately 40,500 RSF, containing a mixture of two-bedroom/two bath and one-bedroom/ one bath apartments, with two elevator bays, 1:1 attached garage parking and common rooftop deck.
Built in 2020 to an elevated standard all units are inclusive of stainless-steel appliances, quartz countertops, all new plumbing and electrical systems, in-unit laundry, custom outfitted closets, window treatments and more.
With the United Center and Medical District just blocks away and the new Green Line stop at Damen and Lake opening late summer 2024, the Near West Side is a highly trafficked area that includes easy access to grocery stores, bars, restaurants, hotels, and various other entertainment options with much upside on the horizon. In addition to the new Green Line Station and being on a major bus route, the subject property offers tenants excellent transportation options via the Dan Ryan, Eisenhower & Blue Line stations.
The property is approximately 40,500 RSF, containing a mixture of two-bedroom/two bath and one-bedroom/ one bath apartments, with two elevator bays, 1:1 attached garage parking and common rooftop deck.
Built in 2020 to an elevated standard all units are inclusive of stainless-steel appliances, quartz countertops, all new plumbing and electrical systems, in-unit laundry, custom outfitted closets, window treatments and more.
With the United Center and Medical District just blocks away and the new Green Line stop at Damen and Lake opening late summer 2024, the Near West Side is a highly trafficked area that includes easy access to grocery stores, bars, restaurants, hotels, and various other entertainment options with much upside on the horizon. In addition to the new Green Line Station and being on a major bus route, the subject property offers tenants excellent transportation options via the Dan Ryan, Eisenhower & Blue Line stations.
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Double Vanities
- Kitchen
- Hardwood Floors
- Stainless Steel Appliances
- Freezer
- Intercom
Site Amenities
- Controlled Access
- Trash Pickup - Curbside
- Elevator
- Sundeck
- Public Transportation
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Walk Score ®
Very Walkable (85)
Transit Score ®
Excellent Transit (76)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $827,610 (2023) | |
| Land Assessment | $58,500 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $769,110 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$58,500 (2023)
Improvements Assessment
$769,110 (2023)
Total Assessment
$827,610 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
-
Staci Slattery -
Karen Biazar -
North Clybourn Group, Inc.
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2217 W Madison | 2217 W Madison St
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