2453 W Marquette Road, CHICAGO IL 60629 Photo 1 2453 W Marquette Road, CHICAGO IL 60629 Photo 2 2453 W Marquette Road, CHICAGO IL 60629 Photo 3 2453 W Marquette Road, CHICAGO IL 60629 Photo 4 2453 W Marquette Road, CHICAGO IL 60629 Photo 5 2453 W Marquette Road, CHICAGO IL 60629 Photo 6 2453 W Marquette Road, CHICAGO IL 60629 Photo 7 2453 W Marquette Road, CHICAGO IL 60629 Photo 8 2453 W Marquette Road, CHICAGO IL 60629 Photo 9 2453 W Marquette Road, CHICAGO IL 60629 Photo 10 2453 W Marquette Road, CHICAGO IL 60629 Photo 11 2453 W Marquette Road, CHICAGO IL 60629 Photo 12 2453 W Marquette Road, CHICAGO IL 60629 Photo 13 2453 W Marquette Road, CHICAGO IL 60629 Photo 14
Listing Courtesy of @Properties Commercial

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2453 W Marquette Road - Corner brick legal 13-unit apartment building located in the Marquette Park area of Chicago, Illinois. The property features on-site laundry, 2-car garage, huge gated back yard and entrance. Boiler heat along with separate meters for cooking gas and electric. The unit mix of the building consists of eight (8) studio/1-bath units, four (4) 1-bedroom/1-bath units and one (1) 2-bedroom/1-bath unit. Many capital improvements have been completed including new rubber roof (2017), 1/3 of the apartments have been updated which included new appliances at the time plus a new rubber roof (2017), updated boiler, hot water heater/tank, porches up to code (2012) and updated electrical panels. 2453 W Marquette provides an investor the opportunity to acquire a stabilized, cash flowing asset. From day one, a new investor will realize a cap rate over 9% as well as a cash-on-cash return over 20%. Those numbers can be improved through further updates, improved leasing and management.

Listing information

  • MLS® ID: 10379104
  • Status: Active
  • New Construction: No
  • Lot Size: 60X150
  • Style: Multi-Family
  • Stories: 2
  • Foreclosure: No
  • Estimated Annual Taxes: $9,157
  • Year Built: 1927
  • Parking Type Description: None 0 cars
  • Lot Area: 0.20 Acres
  • County: Cook

Features

Approximate Age Older
Basement Description Partially Finished
Built Before 1978 (Y/N) Yes
Construction Brick
Current Use Residential-Multi-Family
Exterior Building Type Brick
Foundation Concrete
Franchisor Feed(y/n) No
Fuel Expense Source Actual
Heat/Ventilation Gas
Indoor Parking 1-5 Spaces
Information 24-Hr Notice Required
Misc Inside Common Lunchroom/s
Misc Outside Courtyard
Other # Of Dryers - 1, # Of Ranges - 13, # Of Refrigs - 13, # Of Units - 13, # Of Washers - 1, Approx Total Bldg Sq Ft - 7200, Electricity Expense - 638, Expense Year - 2017, Fuel Expense - 8155, Gross Rent Multiplier - 5.42, Gross Rental Income $ - 8065, Insurance Expense - 6500, Janitor Expense - 3100, Net Oper Income $ - 47250, Net Operating Income Year - 2018, Other Expenses - 8617, Repairs-Decor Expense - 3250, Scavenger Expense - 960, Tax Year - 2017, Total Annual Exp - 49528, Total Annual Income - 96778, Total Monthly Income - 8065, Township - Lake, Water Expense - 9240, Zoning Type - Multi
Ownership Type Limited Liability Corp
Possession Closing
Property Type Multi Family 5+
Roof Coverings Rubber
Roof Structure Flat
Sale Terms Conventional
Tenant Pays Electric
Type Multi-Family Other
Listing Courtesy of @Properties Commercial