New Construction
Address
5614 W Grand Avenue, Chicago, IL
Price
$ 2,250,000
Property Attributes
  • MLS#11993940
  • TypeMulti-Family
  • CountyCOOK
  • CityChicago
  • AreaCHI - Belmont Cragin
  • NeighborhoodBelmont Cragin
  • Zip60639
  • Style
  • Year Built1951
  • Taxes$ 9308
  • Price$ 2,250,000
  • Bedrooms3
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage12150
  • Lot Size9,413 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description

This exciting investment opportunity features three adjacent 3-unit new construction apartment buildings located in Chicago's Belmont Cragin neighborhood in a CHA Mobility Area. Completed in 2022, each building consists of three 3BD/2Ba units with luxury finishes, individual HVAC, and in-unit laundry. The apartments layout favorably with open floor plans and a large primary bedroom/bath. Units feature a dedicated parking space, private balcony or patio, storage, and individual water tanks. This is an opportunity to buy a newly-constructed, well-designed and highly-amenitized asset that is among the nicest product in a still affordable submarket. Achieve stability and rent upside with professional management and leasing. The properties are situated northwest of downtown Chicago near Hanson Park in the Belmont Cragin Neighborhood. This quiet area is primarily residential and light industrial uses. The subject property is 1 block from the Metra Hanson Park station and near CTA bus routes. This is a portfolio with 2 separate PIN's - properties can be sold separately.

Price History
3/5/2024 Listed $2,350,000
4/1/2024 5% - $2,250,000

General Features

Construction Materials Brick
Year Built 1951
Tenant Pays Electricity,Heat
Stories 3
Township West Chicago
Tax Year 2021
Gross Income 242200
County Cook
Net Operating Income 154896
Operating Expense 75319
Insurance Expense 7426
Property Type Commercial Sale
MaintenanceExpense 4200
Status Active
Directions Located at the northwest corner of N Central Ave & W Grand Ave.
City Chicago
Total Units 9
MLS Area CHI - Belmont Cragin
Lot Size Square Feet 9413
Street Name Grand
Tax Annual Amount 9308.49
Electric Expense 1347
Trash Expense 1800
Water Sewer Expense 8879
Additional Parcels Y/N Yes
Days on Market 34
Standard Status Active
Property Type Multi Family 5+

Interior Features

Street Suffix Avenue

Exterior Features

Building Area Total 12150
Lot Dimensions 9413 SQFT
Exterior Brick

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 60639

Price
AVG $750K
$2.25M
Taxes
AVG $6,483
$9,308
Visits
AVG 274
91
Data Provided by Inside Real Estate®
Year Built
AVG 1919
1951

Areas We Cover