3024 Addison St Chicago, IL 60618

This exceptional 7-unit Class A apartment building presents a compelling investment opportunity in Chicago's desirable Addison Mall area. Situated on a wide 0.15-acre lot (57' frontage), this impeccably maintained property boasts 10,434 square feet and offers a strong current NOI of $117,928, translating to a 6.21% cap rate. A pro-forma NOI of $133,000 projects a 7.00% cap rate, showcasing significant upside potential. The building, constructed in 1921 and featuring three stories, includes six large (approximately 1,350+ sq ft) apartments with layouts ranging from 6-2-1, and a 5-1-1 basement apartment. All units feature spacious rooms, formal dining areas, updated kitchens with dishwashers, and individual HVAC systems with central air. Recent upgrades include a complete roof tear-off with a new rubber roof, parapet wall and lintel rebuilding with tuckpointing, and newer thermopane windows. The property also includes a 5-car garage with potential roof access for a deck, a laundry room, and a partially built-out basement area suitable for conversion into a first-floor duplex unit, further enhancing income potential. The building's excellent condition and strong rental history make it a truly turn-key investment. The permitted zoning is Multi-Family, RS-3. The asking price is $1,900,000 ($210.85/sq ft). The property's address is 3024 W Addison St, Chicago, IL 60618, APN 13241270330000.