1453 Springfield Ave Chicago, IL 60623

This well-maintained, six-unit apartment building in Chicago's North Lawndale neighborhood presents a compelling investment opportunity. The property, located at 1453 S. Springfield Ave, features a mix of three 3-bedroom/1-bathroom units and three 2-bedroom/1-bathroom units, all with individual gas forced-air furnaces. Currently boasting 100% occupancy (five of six units currently rented), this stabilized investment offers a strong NOI of $47,311, with a pro-forma NOI of $52,046, resulting in an 8.16% cap rate and a pro-forma cap rate of 8.97%. Built in 1910 and renovated in 2018, the building sits on a 6,250 sq ft lot and comprises approximately 5,000-6,000 sq ft of space across three stories. The property is zoned RT4 and offers additional income potential through two deconstructible basement units and a large rear parking pad. Tenants are responsible for their own utilities, maximizing the return on investment. Conveniently located near public transportation, including the Pink Line, this property offers easy access to downtown Chicago. The asking price is $580,000, translating to $96,667 per unit and a land value of $92.80/sq ft. This fee-simple ownership presents a rare chance to acquire a high-performing multifamily asset in a desirable Chicago location.