Property Description

This is a rarely available, all brick, 9-unit corner building in a prime Harwood Heights location! There are seven (7) one-bedroom, one-bathroom units and two (2) two-bedroom, two-bathroom units. All tenants are on a month-to-month basis and all tenants have resided in their respective units for many years. The rents are low. The market can easily absorb higher rents. Presently, this building generates $99,900 in gross rental income. Going forward, this building can easily generate $170,400 in gross rental income based on the following market rents: three (3) garden units at $1,400 per month, four (4) one-bedroom units at $1,600 per unit and two (2) two-bedroom units at $1,800 per unit. Every unit has a functional floor plan but, more importantly, the building and units have a great vibe. Wait until you see it! The common area also features a coin-operated washer and dryer system, and the private parking lot offers the perfect amount of tenant convenience. This highly desirable multi-unit complex is close to it all: Kennedy Expressway, Harlem and Irving Plaza, O'Hare Airport, plenty of nearby restaurants, transportation as well as highly rated Union Ridge Elementary School and Ridgewood High School! This building and the area is a: gem! A 10!

Property Features