4500 Fullerton Ave Chicago, IL 60639

This exceptional 36-unit apartment building, located at 4500 W Fullerton Ave in Chicago's Hermosa neighborhood, presents a compelling investment opportunity. The property boasts 32 residential units—comprising 12 one-bedroom/one-bathroom, 12 two-bedroom/one-bathroom, and 8 three-bedroom/one-bathroom units—and four ground-floor commercial spaces. All residential units have been cosmetically updated with modern kitchens and bathrooms. Building features include a new 1600 amp electrical service, copper plumbing throughout, and a recently installed silver-coated roof (2023). Extensive masonry and tuckpointing were completed in 2024. Each apartment has individual heating and separate meters. The building also offers an on-site laundry facility and central air conditioning for the retail units (2024). The property benefits from its location along Fullerton Avenue, providing tenants easy access to public transit and numerous retail options. A wall advertising sign on Fullerton Avenue generates additional income. An assumable Fannie Mae loan is available with a balance of $4,155,000, a 4.02% interest rate, and an April 2032 maturity date. The building's strong cash flow offers an in-place cap rate exceeding 6%, with potential for a 7.91% cap rate and over 11% cash returns through improved management and rent optimization. The total square footage is 32,800, with an asking price of $6,250,000. Two 100-gallon hot water tanks are also on site.