- List Price $1,650,000
- Price / Unit $275,000
- Property Type Multifamily
- Units 6
- Current Rents $103,200
- Pro Forma Rents $154,800
- In Place NOI $62,337
- Projected NOI $109,020
- Target CAP Rate 3.8%
- Market CAP Rate 5.5%
- Today's Market Value $1,130,000
- Value w/Market Rents $1,980,000
*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.
- 11
- 7
- 5418
- 1904
- 83%
- 2
- 3
- Varies
- Varies
- Common, Paid
11
7
5418
- 1904
- 83%
- 11
- 3
- Varies
- Varies
- Common, Paid
About the property
Well-maintained 6-unit Greystone in the heart of Wicker Park—Chicago’s premier live/work/play neighborhood. The unit mix includes:
- (1) Front First Floor 2 bed / 2 bath duplex
- (4) 2 bed / 1 bath units
- (1) 1 bed / 1 bath unit
Value-add potential with below-market rents, one unit delivered vacant, and upside through updates.
Property features include:
- 400-amp electric service
- New roof in 2014
- Separate furnaces in all units; 3 units with central air
- Rear 3-story deck system
- (2) gated parking spaces
- Coin laundry on each floor (3 total sets)
Located a short walk from the Damen Blue Line, Milwaukee Ave, and Wicker Park’s best retail, restaurants, and nightlife. Strong rental demand and long-term appreciation potential in one of Chicago’s most sought-after neighborhoods. Only a 6 minute walk to the Charles Joel (Wicker Park) and AN Pritzker Public School.
About the neighbourhood
- Wicker Park is known for its bohemian energy, with a strong art scene, independent shops, and quirky boutiques. With trendy restaurants and craft cocktail bars, Wicker Park offers a wide variety of dining and entertainment options, appealing to a range of tastes. The neighborhood's walkable streets and bike paths, along with access to the Bloomingdale Trail (the 606), encourage outdoor activities and exploration. Wicker Park's proximity to public transportation, including the Blue Line, makes it a convenient hub for residents commuting to downtown. Wicker Park has seen significant real estate and commercial development in recent years, with new homes and businesses emerging, particularly along the Blue Line. Wicker Park features vibrant street art, street festivals, and the iconic Wicker Park fountain, adding to its lively atmosphere and community spirit.
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
View current and future return metrics based on customizable inputs. "Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
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Mortgage Calculator
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Utility Table
Total Yearly Utitlity Cost: $5,640.00
*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
Currently No Tax data found for this property. Please Check back later.
Walkscore
Nearby
- Arts & Entertainment
-
Josephinum Academy Of The Sacred Heart (0.12 mi)
-
Pro Musica Institute (0.13 mi)
-
Wicker Park Choral Singers (0.14 mi)
- Education
-
Sabin Magnet School (0.08 mi)
-
Josephinum Academy Of The Sacred Heart (0.12 mi)
-
Prairieland Montessori (0.15 mi)
- Food
-
Chengdu Bistro (0.16 mi)
-
Crespos Store (0.16 mi)
-
Crespo Foods (0.16 mi)
- Health & Medical
-
Chicago Speech and More (0.06 mi)
-
Winston Manor Convalescent & Nursing Home (0.09 mi)
-
Thrive Allergy Expo (0.09 mi)
Contact Information
- List Price $1,650,000
- Property Type Multifamily
- Current Rents $103,200
- In Place NOI $62,337
- Target CAP Rate 3.8%
- Today's Market Value $1,130,000
- Price / Unit $275,000
- Units 6
- Pro Forma Rents $154,800
- Projected NOI $109,020
- Market CAP Rate 5.5%
- Value w/Market Rents $1,980,000
*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.
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