Property Overview

1540 West Fullerton Avenue (1540wLP) is a 2015 construction, 25 unit luxury multifamily building in Chicago's Lincoln Park Neighborhood. The property features an attractive mix of two, two+den, and three bedroom apartments (all with two bathrooms), one ground floor commercial space, and 24 parking spaces. All units feature 10 foot ceilings, high-end finishes, individual HVAC, and in-unit laundry equipment. The building was built to high construction standards, with masonry, steel and concrete. The property is also sprinklered, and serviced by a passenger elevator. Half of the apartments have private outdoor space, and several have views of Chicago's Skyline. A qualified investor has the rare opportunity to acquire a stabilized, newer construction multifamily asset in one of Chicago's most sought after neighborhoods.

Highlights

  • Strong Lincoln Park Location Near DePaul, Public Transit & Numerous Retailers
  • High-End 2 and 3 Bedroom Units with Individual HVAC & In-Unit Laundry
  • 24 Parking Spaces in Heated Garage on First Level
  • Significant Upside in Rents & Ability to Charge Additional for Garage Parking

Key Details

Asking Price
$10,995,000
Number Of Units
25
Building Size
27,300 SF
Cap Rate
5
Year Built
2015