Property Description

Portage Park 7-unit value-add on a corner lot steps from the park: two brick buildings (a 4-unit front building and a 3-unit coach house) with two parking spaces between them. The unit mix is three 1-bed/1-bath and four 2-bed/1-bath apartments, including a large top-floor 2-bed/1-bath in the main building that's ideal as an owner's unit. The boiler and water heaters in the main building are newer, and tenants pay their own separately metered electric. Three units are vacant for the new oner to renovate and lease at market rents. Current scheduled rents are about $76,800 per year against estimated market rents of about $108,000 per year, plus parking income, and the interiors need cosmetic updates only. The building sits on a quiet residential corner a short walk from the Portage Park and one block from the Irving Park Rd shops, with Six Corners about a mile away and CTA bus service nearby. This an estate sale and building is sold AS-IS

Property Features