Property Description

Heart of Portage Park area. Park is literally 2 blocks south of the property. Building consists of 2 stores and 4 apartments plus a 3-car detached garage. All apartments have updated kitchens and baths. Stores are a beauty shop on the corner about 1200 square feet leased till May 2028 at $1450. per month. Store to the east about 1100 square feet is an art studio leased till September 2027 at $1125. per month. Both stores are under rented. Stores were at one time combined and served as a large grocery store and can easily be done again. Apartments in front are 5 room 2 bedroom depending on use can be 3 bedroom. rented at $1540. and $1850. Two apartments in the rear are 4 room one bedroom leased for $1105. and $1140. 3 car garage and part of basement are rented to a contractor for $600. per month. Total income $8810 per month or $105720 yearly. Gross multiplier 9.9. Expenses total $30861. Net income $74859. Cap rate of 7.1%. Newly coated roof with silicone newer boiler heating system and hot water tank.

Property Features