2537 N Wayne AveChicago, IL 60614 View Map $1,775,000 Schedule a Tour
On Site57 days
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Tim Stassi(312) 371-1070
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Property Type:Multi Family- 2-4 Units
On Site:57 Days
TOP RATED LINCOLN PARK, TURN KEY RENOVATED 4 UNIT INVESTMENT OFFERING. ALL UNITS RECENTLY UPDATED INCLUDING LARGE UPDATED KITCHENS AND BATHS. FORMERLY A 4 UNIT CONDO ASSOCIATION - COULD BE CONVERTED BACK AND SOLD INDIVIDUALLY. EACH UNIT IS A DUPLEX/TWO LEVEL APARTMENT WITH INDIVIDUAL CENTRAL HEAT & AC, WATER HEATER, GAS LOG FIREPLACES AND LAUNDRY IN-UNIT: 1F OFFERS A 2020 UPDATED 3 BED 2 BATH, 1R OFFERS A 2020 UPDATED 2 BED 2 BATH APARTMENT; 2F IS A TOP FLOOR TWO-LEVEL 3 BED 2 BATH APARTMENT AND 2R OFFERS AN UPDATED TWO-LEVEL 3 BED 2 BATH APARTMENT. TWO PARKING SPACES ARE CURRENTLY INCLUDED AND ARE RENTED BY 2F AND 2R. THERE IS A SMALLER SPACE THAT COULD BE USED FOR A 3RD PARKING SPOT FOR A SMALLER CAR. LARGE REAR YARD. HIGH DEMAND AREA WITH RENTAL GROWTH POTENTIAL. HIGH DEMAND LOW VACANCY LOCATION NEAR WORLD CLASS RESTAURANTS, BARS, SHOPPING AND DEPAUL UNIVERSITY ALL VERY CLOSE. $101K NOI, 5.7 CAP & 12.12 GRM. ASSET WAS FORMERLY 4 SEPARATE CONDOMINIUMS WITH INDEPENDENT UTILITIES FOR EACH DUPLEX UNIT. POSSIBLE OPTION TO CONVERT BACK AND SELL OFF SINGLE UNITS. PROPERTY WAS COMBINED INTO SINGLE PIN IN 2020. REQUIRED 48 HOURS NOTICE.
$000 Monthly Payment
Loan and interest only.
Address:2537 N Wayne Ave, Chicago, IL 60614
Exterior Construction Type: Frame
Total # Units in Building: 4
Basement Type: Full
Parking On Site: Yes
Parking Ownership: Deeded Sold Separately
Features / Amenities
Parking Total: 2
Heat Source / Type: Natural Gas
Lot Dimensions:Standard Chicago Lot
Sewer: Public Sewer, Sewer-Storm
Water: Lake Michigan, Public
Directions:Southport (1400W) to Wrightwood (2600N). East to Wayne (first street) then turn right (south) to property on left.
Tax and Financial Info
Tax Year: 2020
Tax Annual Amount: $29,060.69
Ownership: Fee Simple
Gross Income: $146,400
Net Income: $101,322
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2537 N Wayne Ave Chicago, IL 60614
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Listing provided courtesy of @Properties Christie's International Real Estate.
Listings courtesy of MRED MLS as distributed by MLS GRID
Based on information submitted to the MLS GRID as of March 22, 2023 6:15 PM CST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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