Interra Realty has been exclusively engaged to market 1351-59 W. Touhy Avenue, Chicago, for the sale. The subject investment property is a 43-unit, courtyard-style multifamily asset in the Rogers Park Neighborhood of Chicago’s north side.
The unit mix is comprised of one, two, and three-bedroom apartments. All of the units have been modernized with updated kitchens and bathrooms. The property has been well maintained and is professionally managed, but a new investor can realize revenue upside by pushing rents to make up for the loss-to-lease in the rent roll. Recent capital include new electrical service and rewiring to the units.
The property is being offered for sale with assumable, non-recourse financing at a 4.51% rate, fixed until 5/1/29 providing a healthy spread between cap rate and interest rate.
- High Curb Appeal Courtyard a Block from the Lakefront
- Attractive Mix of 1, 2, and 3 Bedroom Apartments
- Modernized Kitchens and Bathrooms
- Newer Electrical Service to the Building and Units
- Assumable, Non-Recourse Financing at a Below Market Rate