1334 Cleaver St Chicago, IL 60642

This exceptional three-unit apartment building in Chicago's desirable Wicker Park neighborhood presents a compelling investment opportunity. The 4,200 square foot property, built in 1995 and renovated in 2016, boasts a 100% occupancy rate and a strong net operating income (NOI) of $74,052, with a pro-forma NOI of $90,798. The building comprises one four-bedroom, three-bathroom duplex and two three-bedroom, two-bathroom apartments, all featuring modern finishes including stainless steel appliances, hardwood floors, and in-unit laundry. Situated on a 3,000 square foot lot, the property includes four parking spaces. Its prime location offers unparalleled connectivity, with proximity to the CTA Blue Line, multiple bus routes (#9, #56, and #70), and the Kennedy Expressway. The vibrant Wicker Park neighborhood, known for its eclectic mix of restaurants, bars, shops, and cultural venues, boasts a strong demographic profile, with an average household income of $158,380 and a median home value of $625,099 within a one-mile radius. The property is zoned RT-4 and has a current asking price of $1,400,000, representing a price per unit of $466,667 and a current cap rate of 5.29%, with a pro-forma cap rate of 6.49%. This well-maintained property offers a stable income stream with significant upside potential for rental increases. The property's location near the intersection of Ashland, Division, and Milwaukee Avenues provides easy access to a variety of national and local retailers. This is a rare opportunity to acquire a stabilized multifamily investment in one of Chicago's most sought-after neighborhoods.