Interra Realty has been exclusively engaged to market 1415-17 W. Morse, Chicago, for sale. The subject investment property is a 17 unit, mixed-use asset in the Rogers Park Neighborhood of Chicago’s northside. The seller recently entitled the parking lot in the rear of the building for the new construction of 16 unit multifamily building, which will connect with the street-facing building. Please contact the listing broker for the approved plans.
The current building offers significant value-add potential via in-unit and common area modernization. The apartments are spacious layouts, which have functional rental quality finishes, but would lend well to renovations. All units have separate forced air furnaces and hot water heaters. The east-facing exterior wall of the property is visible form the Morse Red Line stop making it a perfect canvas for advertising. This offers a new investor a potential additional revenue opportunity granted the appropriate permits are attained.
A new investor may elect to build the rear property immediately, or unlock that potential in the future. The existing building presents an attractive balance of stability
with value-add potential.
- Dynamic Rogers Park Location Steps from Red Line
- Entitled Developable Land in Rear of Property
- Existing Building Has Separate Furnaces and Hot Water Heaters
- Spacious Apartment Layouts and Attractive Common Areas
- Rear Parcel Generates Revenue as Parking