312 Central AveChicago, IL 60644

This 68-unit apartment building, located at 312 N Central Ave in Chicago, IL, presents a compelling value-add investment opportunity. The four-story property, built in 1924, boasts 26,450 square feet on an 8,700 square foot lot and is zoned B3-2. Each of the 68 units is a studio apartment. Heating is provided by electric baseboard units in the apartments and gas forced air in common areas. Kitchenettes include a microwave and mini-refrigerator. The building includes a laundry room with three washers and three dryers. An elevator is currently out of service. The asking price is $1,700,000, representing a price per unit of $29,412. This property offers significant upside potential for investors seeking a below-replacement-cost acquisition in the Austin neighborhood. The property's size, unit count, and location in Cook County (zip code 60644) make it an attractive prospect for those seeking to capitalize on the Chicago multifamily market. The existing infrastructure provides a solid foundation for future improvements and value enhancement.