4901 St Louis AveChicago, IL 60625

This exceptional investment opportunity presents a stabilized 52-unit multifamily portfolio ideally situated in two high-demand Chicago rental locations: Albany Park and near Loyola University. The portfolio comprises two buildings, totaling 35,759 square feet on a combined 0.36 acres. Built in 1929, both properties boast recently tuck-pointed exteriors and updated electrical systems, including newer service panels. Each building offers convenient in-unit laundry facilities and bike storage, enhancing tenant appeal. The unit mix is highly desirable, including a combination of studios, one-bedroom, and two-bedroom apartments. Common areas have undergone recent renovations. The portfolio currently generates a NOI of $573,215, representing a 6.44% cap rate, with a pro-forma NOI of $649,754 and a pro-forma cap rate of 7.30%. The asking price is $8,900,000, translating to $171,153.85 per unit and $248.89 per square foot. This presents a compelling investment with significant potential for rent growth in a prime location near multiple college campuses and secured outdoor tenant common areas. The buildings feature baseboard and boiler heating systems. Roof condition is unknown for both buildings. This is a ground lease-free opportunity.