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Multifamily

Springfield & Avers Portfolio

4824 N Avers Ave, Chicago, IL 60625

Listing Price: $6,750,000

Cap Rate
5.34%
Number of Units
54
Occupancy
97.0%
Price/Unit
$125,000
Price/Gross SF
$192.86
Gross SF
35,000

Investment Overview

Marcus & Millichap is pleased to present this two building multifamily portfolio opportunity in the Albany Park neighborhood of Chicago. The subject properties of 4824 North Avers Avenue and 4825 North Springfield Avenue are located 8.1 miles north of Chicago's downtown loop area, 1.2 miles east of the I-94 Edens Expressway, 0.6 miles west of the Chicago Transit Authority (CTA) Kimball Brown Line train station, and 500 feet north of the Lawrence and Springfield bus 81 stop. The unit mix for 4824 North Avers Avenue consists of six studio, one-bathroom units that measure 500 square feet, twelve one-bedroom, one-bathroom units that measure 700 square feet, and eight two-bedroom, one-bathroom units that measure 900 square feet. This property also features two income-producing parking spaces. The unit mix for 4825 North Springfield Avenue consists of twenty one studio, one-bathroom units that measure 500 square feet, six one bedroom, one-bathroom units that measure 700 square feet, and one two-bedroom, one-bathroom unit that measures 900 square feet. The Albany Park neighborhood is considered one of Chicago's most diverse community areas with the highest percentage of foreign-born residents. This area is not only one of the most diverse neighborhoods in Chicago, it's also quite affordable and contains a solid inventory of classic Chicago-style bungalows and brick multi-family properties. The neighborhood boasts an unmatched array of multicultural restaurants, including local favorite Noon-O-Kabab and the celebrated falafel of Semiramis. Along the Lawrence Avenue corridor, you will discover independently-owned grocery stores, delicious Korean cuisine, and a collection of highly-regarded Middle Eastern and Mexican restaurants. An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of these asset plus the ability to cash flow the property.

Investment Highlights

  • Prime Albany Park Location
  • Walking Distance to CTA Public Transportation
  • Attractive Unit Mix With Rental Upside
  • Buildings Backup to One Another

Exclusively Listed By

Multifamily

Springfield & Avers Portfolio

Listing Price: $6,750,000

Cap Rate
5.34%
Number of Units
54
Occupancy
97.0%
Price/Unit
$125,000
Price/Gross SF
$192.86
Gross SF
35,000

Investment Highlights

  • Prime Albany Park Location
  • Walking Distance to CTA Public Transportation
  • Attractive Unit Mix With Rental Upside
  • Buildings Backup to One Another

Investment Overview

Marcus & Millichap is pleased to present this two building multifamily portfolio opportunity in the Albany Park neighborhood of Chicago. The subject properties of 4824 North Avers Avenue and 4825 North Springfield Avenue are located 8.1 miles north of Chicago's downtown loop area, 1.2 miles east of the I-94 Edens Expressway, 0.6 miles west of the Chicago Transit Authority (CTA) Kimball Brown Line train station, and 500 feet north of the Lawrence and Springfield bus 81 stop. The unit mix for 4824 North Avers Avenue consists of six studio, one-bathroom units that measure 500 square feet, twelve one-bedroom, one-bathroom units that measure 700 square feet, and eight two-bedroom, one-bathroom units that measure 900 square feet. This property also features two income-producing parking spaces. The unit mix for 4825 North Springfield Avenue consists of twenty one studio, one-bathroom units that measure 500 square feet, six one bedroom, one-bathroom units that measure 700 square feet, and one two-bedroom, one-bathroom unit that measures 900 square feet. The Albany Park neighborhood is considered one of Chicago's most diverse community areas with the highest percentage of foreign-born residents. This area is not only one of the most diverse neighborhoods in Chicago, it's also quite affordable and contains a solid inventory of classic Chicago-style bungalows and brick multi-family properties. The neighborhood boasts an unmatched array of multicultural restaurants, including local favorite Noon-O-Kabab and the celebrated falafel of Semiramis. Along the Lawrence Avenue corridor, you will discover independently-owned grocery stores, delicious Korean cuisine, and a collection of highly-regarded Middle Eastern and Mexican restaurants. An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of these asset plus the ability to cash flow the property.

Exclusively Listed By

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