Mixed-Use

1523 W Morse Ave

1523 W Morse Ave, Chicago, IL 60626

Listing Price: $900,000

Cap Rate
6.19%
Number of Units
5
Price/Unit
$180,000
Price/Gross SF
$180.00
Gross SF
5,000

Investment Overview

Marcus & Millichap is pleased to present this mixed-use real estate opportunity in the Rogers Park neighborhood of Chicago. The subject property of 1523 West Morse Avenue is located 9.8 miles north of Chicago's downtown loop area, 0.5 miles west of Lake Michigan, 0.2 miles west of the CTA's Morse Red Line train station, and 500 feet from the CTA's Morse and Ashland bus 96 stop. The unit mix for the subject property consists of one first floor retail suite that measures 1,300 square feet, three one-bedroom one-bathroom units that measure 750 square feet and one three-bedroom one-bathroom unit that measures 1,200 square feet respectively.

Rogers Park is one of the most economically and culturally diverse communities not only in Chicago, but in the entire United States-proven by the 80-plus languages spoken in the neighborhood. Located at the far northeast corner of the city, approximately eleven miles north of Chicago's central business district known as "The Loop," Rogers Park has convenient transportation to and from the city. The neighborhood includes four CTA "L" stops (Loyola, Morse, Jarvis, and Howard stops); one Metra stop at Lunt Avenue; five bus lines; and the Howard Bus and "L" terminal which is the staging point for north suburban travel. In addition, Rogers park is one of the few Chicago neighborhoods that has direct public access to Lake Michigan. Unlike other Chicago lakefront neighborhoods, Rogers Park has 13 public street-end beaches and many buildings along Lake Michigan have their own private beaches.

An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of this asset plus the ability to raise current rents and cash flow the property.

Investment Highlights

  • Rogers Park Neighborhood
  • Some Recent Major Capital Improvements
  • On-Site Parking & Laundry
  • Attractive Unit Mix With Rental Upside
  • Walking Distance to Morse Red Line Station

Exclusively Listed By

Listing Price: $900,000

Cap Rate
6.19%
Number of Units
5
Price/Unit
$180,000
Price/Gross SF
$180.00
Gross SF
5,000

Investment Highlights

  • Rogers Park Neighborhood
  • Some Recent Major Capital Improvements
  • On-Site Parking & Laundry
  • Attractive Unit Mix With Rental Upside
  • Walking Distance to Morse Red Line Station

Investment Overview

Marcus & Millichap is pleased to present this mixed-use real estate opportunity in the Rogers Park neighborhood of Chicago. The subject property of 1523 West Morse Avenue is located 9.8 miles north of Chicago's downtown loop area, 0.5 miles west of Lake Michigan, 0.2 miles west of the CTA's Morse Red Line train station, and 500 feet from the CTA's Morse and Ashland bus 96 stop. The unit mix for the subject property consists of one first floor retail suite that measures 1,300 square feet, three one-bedroom one-bathroom units that measure 750 square feet and one three-bedroom one-bathroom unit that measures 1,200 square feet respectively.

Rogers Park is one of the most economically and culturally diverse communities not only in Chicago, but in the entire United States-proven by the 80-plus languages spoken in the neighborhood. Located at the far northeast corner of the city, approximately eleven miles north of Chicago's central business district known as "The Loop," Rogers Park has convenient transportation to and from the city. The neighborhood includes four CTA "L" stops (Loyola, Morse, Jarvis, and Howard stops); one Metra stop at Lunt Avenue; five bus lines; and the Howard Bus and "L" terminal which is the staging point for north suburban travel. In addition, Rogers park is one of the few Chicago neighborhoods that has direct public access to Lake Michigan. Unlike other Chicago lakefront neighborhoods, Rogers Park has 13 public street-end beaches and many buildings along Lake Michigan have their own private beaches.

An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of this asset plus the ability to raise current rents and cash flow the property.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower