7201-7217 N Western Ave
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7201-7217 N Western Ave
21 Unit Apartment Building $2,550,000 ($121,429/Unit) 7.27% Cap Rate Chicago, IL 60645
Investment Highlights
- Heavy daytime foot traffic
- Great intersection exposure
Executive Summary
606 Realty LLC is pleased to exclusively offer for purchase 7201 N Western, a turnkey, mixed-use building featuring ten (10) residential units and eleven (11) ground-floor commercial spaces, located in Chicago's West Ridge area. Most units have been cosmetically updated with modern kitchens and bathrooms. Each apartment is separately metered with individual tenant-paid heat. The property offers a unique opportunity to acquire a strong, stabilized cash-flowing asset with an in-place cap rate of over 7% from day one.
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- Offering Memorandum
Property Facts
| Price | $2,550,000 | Apartment Style | Low Rise |
| Price Per Unit | $121,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 7.27% | Building Size | 18,911 SF |
| No. Units | 21 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1928 |
| Property Subtype | Apartment |
| Price | $2,550,000 |
| Price Per Unit | $121,429 |
| Sale Type | Investment |
| Cap Rate | 7.27% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 18,911 SF |
| No. Stories | 2 |
| Year Built | 1928 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | - | 800 |
| 1+1 | 10 | - | 1,000 |
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Walk Score ®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 11-30-318-009-0000 | Improvements Assessment | $91,270 |
| Land Assessment | $80,617 | Total Assessment | $171,887 |
PROPERTY TAXES
Parcel Number
11-30-318-009-0000
Land Assessment
$80,617
Improvements Assessment
$91,270
Total Assessment
$171,887
zoning
| Zoning Code | B3-2 (supports neighborhood-oriented commercial activity with the option for residential use, making it suitable for mixed-use.) |
| B3-2 (supports neighborhood-oriented commercial activity with the option for residential use, making it suitable for mixed-use.) |
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606 Realty LLC
7201-7217 N Western Ave
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