Monarch Realty Partners is pleased to exclusively present for purchase 2858 W. Roosevelt, a nine (9) unit corner walk-up apartment building in the North Lawndale neighborhood of Chicago. While the residential units of the property are vacant and in need of rehabilitation, there is a favorable mix of six [6] 2BR/1BA and two [2] 3BR/1BA units. Further opportunities include the potential for value add upgrades such as individual HVAC and other base building renovations. Current mechanicals include a hot water tank and electric service in the basement. The Grocery & Meat Market corner store has occupied the commercial space for three [3] years.
North Lawndale is a neighborhood on Chicago’s West Side, bordering Garfield Park to the north and Little Village to the south. The town of Cicero borders North Lawndale to the west, and immediately to the east is the rapidly developing Illinois Medical District and Tri-Taylor neighborhood. North Lawndale is a blossoming community that has seen significant progress through a $200 million project spearheaded by the Chicago Plan Commission. The plan has set out to develop 10 acres of vacant land with the construction of hundreds of rental housing units and retail space by 2021. Further rejuvenation includes the redevelopment of the former Sears headquarters into a preservation award winning affordable housing complex. Additionally, The Christian Community Development Association has a robust presence in the community, providing non-profit legal, health, and fitness centers aimed at empowering underserved citizens with affordable, life changing services.
