For Sale
$3,270,000

1615 Highland Ave Chicago, IL 60660

Renovated Chicago apartment building, strong cash flow.

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional investment opportunity presents a meticulously renovated 13-unit apartment building situated in Chicago's desirable Edgewater neighborhood. The property, boasting 12,751 square feet, is comprised of a three-story brick building with a coach house and garages, all situated on an oversized 12,751 square foot lot. Built in 1917 and zoned RS-3, the building offers 17 parking spaces. All 13 units underwent complete renovations within the last two years, featuring modern kitchens with stainless steel appliances, exquisite hardwood flooring, updated bathrooms, and in-unit laundry. Recent upgrades also include a new roof and hot water heaters. Currently, all units are occupied, generating a strong cash flow. The property's prime location offers proximity to the University, diverse restaurants, retail amenities, and the lakefront. While currently operating at full occupancy, there are some value-add opportunities for future enhancement. The asking price is $3,270,000, translating to $251,538 per unit. This turnkey asset is an ideal investment for those seeking a stable, high-performing property in a sought-after Chicago location. Further details and financial information are available upon request, subject to a non-disclosure agreement and proof of funds.

Highlights

  • Desirable Edgewater location in Chicago.
  • Turnkey 13-unit apartment building.
  • 100% occupancy.
  • All units completely renovated in 2022 with modern kitchens, updated baths, and in-unit laundry.
  • New roof and hot water heaters.
  • Value-add potential.

Property Details for 1615 Highland Ave

Property type
Apartment buildings
Square Feet
12,751 SF
Year Built
1917
Stories
3
Units
13

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.99681260945
Longitude
-87.670954552773
1615 Highland Ave, Chicago, Illinois

FAQs

What type of property is this?
Apartment building - Renovated Chicago apartment building, strong cash flow.
Where is the apartment building located?
The property is located at 1615 Highland Ave Chicago, IL.
What is the asking price?
The asking price for this property is $3,270,000.
What are key features of this property?
This property features: Desirable Edgewater location in Chicago.; Turnkey 13-unit apartment building.; 100% occupancy.
How can I contact the broker?
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1615 Highland Ave
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