1748 North AveChicago, IL 60622

Property Details for 1748 North Ave

Year built

2011

Property size (Sq ft)

8,600 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 7-unit apartment building, located at 1748 W North Ave in Chicago's desirable Bucktown neighborhood, presents a compelling investment opportunity. Built in 2011, this four-story, 8,600 square foot building boasts a 5.49% cap rate and a strong net operating income (NOI) of $241,353. The property features seven fully occupied, high-end 3-bedroom, 2-bathroom residential units, each with granite countertops, stainless steel appliances, hardwood floors, in-unit laundry, and individual HVAC systems. Tenants pay their own utilities. Two commercial storefronts are also included, with long-term leases extending to 2028, contributing significantly to the property's consistent income stream. Unit 3 offers a full floor with expansive terraces, while Units 4W and 4E provide access to a private roof deck. The building includes 10 parking spaces. The property sits on a 5,952 square foot lot and is zoned C1-2. This stabilized investment, with a price of $4,400,000 ($511.63/sq ft and $628,571.43/unit), offers a rare chance to acquire a well-maintained, high-performing asset in a prime Chicago location. The projected monthly gross income is $29,641. All units have similar high-end finishes. This is a turnkey investment ready for immediate cash flow.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9106

Longitude

-87.672

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