Van Buren Flats 2824 W Van Buren St
10 Unit Apartment Building $2,000,000 ($200,000/Unit) Chicago, IL 60612
INVESTMENT HIGHLIGHTS
- Condo Quality Units with Imported Finishes
- New Individual Furnaces & Water Heaters
- Close Proximity to Chicago's "EL" Train Station & I-290 Expressway
- Ten (10) 3BD/2BA Units
- In-Unit Laundry
- Rear Parking Lot w/ ten (10) spots
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively present for purchase The Van Buren Flats, a newly constructed ten (10) unit building at 2824 W. Van Buren St in Chicago's East Garfield Park neighborhood. The property is conveniently situated near I-290 and the California CTA Blue Line Station, providing immediate access to the United Center, Illinois Medical District, and downtown Chicago.
The Van Buren Flats are solely comprised of ten (10) 3BD/2BA luxury apartments. All of which feature spacious, open-concept floorplans with modern, top-of-line finishes imported from Europe. Kitchens and baths are equipped with modern cabinetry, stainless steel appliances, and stone countertops imported from Italy. Spacious bedrooms are fitted with walk-in closets, twin-tilt European windows, and new carpet. Each unit contains individual HVAC and hot water tanks, in-unit laundry, and in-unit circuit breakers. The building is accompanied with a 10-spot parking lot in the rear that generates additional monthly income.
The Van Buren Flats presents investors with the rare opportunity to acquire a cash flowing, new construction building in the heart of the city. From day one, Van Buren's next owner will realize a cap rate exceeding 6%, and the ability to further increase cash returns by leasing the rest of the units.
The Van Buren Flats are solely comprised of ten (10) 3BD/2BA luxury apartments. All of which feature spacious, open-concept floorplans with modern, top-of-line finishes imported from Europe. Kitchens and baths are equipped with modern cabinetry, stainless steel appliances, and stone countertops imported from Italy. Spacious bedrooms are fitted with walk-in closets, twin-tilt European windows, and new carpet. Each unit contains individual HVAC and hot water tanks, in-unit laundry, and in-unit circuit breakers. The building is accompanied with a 10-spot parking lot in the rear that generates additional monthly income.
The Van Buren Flats presents investors with the rare opportunity to acquire a cash flowing, new construction building in the heart of the city. From day one, Van Buren's next owner will realize a cap rate exceeding 6%, and the ability to further increase cash returns by leasing the rest of the units.
PROPERTY FACTS
| Price | $2,000,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 13,500 SF |
| No. Stories | 3 |
| Year Built | 2021 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | - | - |
1 of 1
Transit Score®
Excellent Transit (77)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 16-13-124-025-0000 | Improvements Assessment | $0 |
| Land Assessment | $11,129 | Total Assessment | $11,129 |
ZONING
| Zoning Code | B2-3 (Retail storefronts, apartments allowed on the ground floor.) |
