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Multifamily

2948 N Laramie Ave

2948 N Laramie Ave, Chicago, IL 60641

Listing Price: $1,499,000

Cap Rate
6.18%
Number of Units
12
GRM
9.74
Occupancy
95.0%
Price/Unit
$124,917
Price/Gross SF
$158.62
Gross SF
9,450

Investment Overview

Marcus & Millichap is pleased to present this co-op deconversion multi-family real estate opportunity in the Belmont Cragin neighborhood of Chicago. The subject property of 2948 North Laramie Avenue is located 7.9 miles northwest of Chicago's downtown loop area, 2.7 miles west of the Kennedy Expressway, 2 miles northwest of the Metra's Healy MD-N train station, and 0.4 miles south of the CTA's Belmont & Leclaire bus 77 stop. The unit mix for the subject property consists of six one-bedroom one-bathroom units that measure 800 square feet and six two-bedroom one-bathroom units that measure from 900-1,000 square feet respectively. The property has received multiple recent capital improvements including; Newer hot water tank, recent tuck pointing, and some newer windows. Some units feature recently renovated kitchens and bathrooms.

The neighborhood of Belmont Cragin is located on Chicago's northwest side with a total population of around 80,000 permanent residents. Living in Belmont Cragin offers residents a mix of urban and suburban feels with quite tree lined streets along with major retail corridors. Offering residents a multitude of options when it comes to restaurants, bars, shopping, and night life activities. All located within walking distance of the subject property.

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

  • Belmont Cragin Neighborhood
  • Recent Capital Improvements
  • Add-Value Opportunity
  • Cooperative Community De-Conversion
  • Attractive Unit Mix
  • Walking Distance to Public Transportation

Exclusively Listed By

Listing Price: $1,499,000

Cap Rate
6.18%
Number of Units
12
GRM
9.74
Occupancy
95.0%
Price/Unit
$124,917
Price/Gross SF
$158.62
Gross SF
9,450

Investment Highlights

  • Belmont Cragin Neighborhood
  • Recent Capital Improvements
  • Add-Value Opportunity
  • Cooperative Community De-Conversion
  • Attractive Unit Mix
  • Walking Distance to Public Transportation

Investment Overview

Marcus & Millichap is pleased to present this co-op deconversion multi-family real estate opportunity in the Belmont Cragin neighborhood of Chicago. The subject property of 2948 North Laramie Avenue is located 7.9 miles northwest of Chicago's downtown loop area, 2.7 miles west of the Kennedy Expressway, 2 miles northwest of the Metra's Healy MD-N train station, and 0.4 miles south of the CTA's Belmont & Leclaire bus 77 stop. The unit mix for the subject property consists of six one-bedroom one-bathroom units that measure 800 square feet and six two-bedroom one-bathroom units that measure from 900-1,000 square feet respectively. The property has received multiple recent capital improvements including; Newer hot water tank, recent tuck pointing, and some newer windows. Some units feature recently renovated kitchens and bathrooms.

The neighborhood of Belmont Cragin is located on Chicago's northwest side with a total population of around 80,000 permanent residents. Living in Belmont Cragin offers residents a mix of urban and suburban feels with quite tree lined streets along with major retail corridors. Offering residents a multitude of options when it comes to restaurants, bars, shopping, and night life activities. All located within walking distance of the subject property.

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

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