- List Price $875,000
- Price / Unit $145,833
- Property Type Multifamily
- Units 6
- Current Rents $85,500
- Pro Forma Rents $114,000
- In Place NOI $53,915
- Projected NOI $62,700
- Target CAP Rate 6.25%
- Market CAP Rate 6%
- Today's Market Value $898,583
- Value w/Market Rents $1,045,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 9
- 6
- 4164
- 1927
- 100%
- 2
- 2
- Boiler Heat
- Window Units
- Common, Paid
9
6
4164
- 1927
- 100%
- 9
- 2
- Boiler Heat
- Boiler Heat
- Common, Paid
About the property
Property sold As-Is. Well-maintained, 6-unit multifamily property offers great income potential and urban convenience. Ideal for investors or owner-occupants. This property is a rare deal in a strong rental neighborhood.
– 6 units: (3) 2-bed/1-bath + (3) 1-bed/1-bath units. Zoned RM-5.
– The 2 lower level units currently non-conforming. Most of work required for the building has been completed, minimal remaining work, happy to discuss work required for Buyer to comply out non-conforming violations and to complete permit and variance process.
– Spacious Units: walk-in closets, pantries, enclosed porches, original woodwork, crown moldings, stained glass windows, decorative fireplaces, and beautiful hardwood floors.
– Coin-operated laundry (two washers, two dryers) and a 2-car brick garage with potential to add revenue.
– Four separate boiler heating systems.
About the neighbourhood
- Located just 8 miles from Chicago’s Loop, Belmont Cragin is a vibrant, up-and-coming Northwest Side neighborhood, ideal for investors. The Belmont/Central TIF district fuels revitalization, supporting property upgrades and new development. This highly walkable area offers easy access to retailers, grocery stores, schools, clinics, and parks like Cragin and Riis, both undergoing enhancements. Excellent connectivity via CTA Belmont bus, Metra’s Grand/Cicero station (20-30 minutes to Union Station), and nearby Blue Line stations ensures seamless travel to downtown. Major roads, including Belmont, Diversey, and Fullerton Avenues, enhance accessibility. With a thriving small business scene and ongoing infrastructure improvements, including expanded bicycle corridors, Belmont Cragin presents strong growth potential for savvy investors.
Municipality - Investor Guide
Chicago
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: Y | Cost: $7.50 / $1000 | Required: No | Required: Yes |
| Seller: Y | Cost: $3.00 / $1000 | Cost: $0 | Cost: Varies |
| Notes | |||
| All rental buildings with 4 or more units must be registered with the city; Inspection may occur upon notice from Building Department. Call City to confirm if inspection is needed prior to closing. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
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Utility Table
Total Yearly Utitlity Cost: $7,850.00
*This Utility Table does not include snow removal or lawn care costs, if any. For more details on snow/lawn expenses, see the "Expenses" attachment located under the "Property Documents" section.
Property Taxes
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Walkscore
Nearby
- Arts & Entertainment
-
North Center For Handicapped Children (0.12 mi)
-
Tapia Realty (0.15 mi)
-
Kiddieland ECE II (0.16 mi)
- Education
-
North Center For Handicapped Children (0.12 mi)
-
Kiddieland ECE II (0.16 mi)
-
Food Service Educational Seminars (0.21 mi)
- Food
-
Cermak Fresh Market (0.1 mi)
-
Olocuilta Pupuseria (0.14 mi)
-
Subway (0.15 mi)
- Health & Medical
-
Wilk Chester A Dr (0.13 mi)
-
Brian Lynch, MD (0.14 mi)
-
Klempel Barbara MD (0.16 mi)
Contact Information
- List Price $875,000
- Property Type Multifamily
- Current Rents $85,500
- In Place NOI $53,915
- Target CAP Rate 6.25%
- Today's Market Value $898,583
- Price / Unit $145,833
- Units 6
- Pro Forma Rents $114,000
- Projected NOI $62,700
- Market CAP Rate 6%
- Value w/Market Rents $1,045,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
