Interra Realty has been exclusively engaged to bring to market 1619-21 W Warren Blvd, an (8) unit building in the West Loop neighborhood of Chicago, IL. Throughout 2018-2019, the building was gut rehabbed to feature many recent upgrades and now boasts condo quality units throughout. The unit mix features (1) 1Bdr/1Ba, (5)2Bdr/1Ba, and (2) 2Bdr/2Ba units. The building includes two (2) 73 Gal hot water heaters- installed in 2015, updated electric, updated plumbing, new gutters, new cedar and metal gate with closer, paved rear driveway, (13) parking spaces, and individual HVAC systems.
The units feature re-finished and stained hardwood floors, new cabinets, granite countertops, stainless steel appliances, remodeled bathrooms, new doors, new closets, new trim, LED lighting, buzzer/intercom system, Ecobee climate control and in-unit laundry. There are thirteen (13) parking spaces in the rear that offer untapped upside to a new investor along with continual increases in residential rents. Tenants also pay for a RUB and receive both internet and cable for a small monthly charge.
Current loan with Greystone must be assumed by a qualified borrower with 1% fee plus legal/review fees. Loan terms include: $1,349,450 balance, 4.98% rate, and 3/1/2029 maturity date.
Learn more about this transaction here
- (8) Unit Building In West Loop with Cash Flow Upside
- Units Mix Features (1) 1Bdr/1Ba, (5) 2Bdr/1Ba, And (2) 2Bdr/2Ba Units
- Walking Distance To The Ashland CTA “L” Stop, United Center, Rush University Medical Center, And Many Restaurants In Nearby Fulton Market
- Metal Gate With Closer
- Recently Paved Rear Driveway
- (13) Parking Spaces for Untapped Revenue Upside