2253 S. Oakley Ave.

Property Overview

Interra Realty has been exclusively engaged to bring to market 2253 S Oakley Ave, a fully renovated 12-unit multifamily property located in the heart of Chicago’s highly sought-after Pilsen neighborhood. Just steps from the vibrant 18th Street corridor, tenants enjoy immediate access to some of the city's most popular restaurants, cafes, and local boutiques. The property is ideally situated within walking distance to both the Damen and Western Pink Line CTA stations,  increasing its appeal to renters.

The property was gut-renovated in 2019 with each unit having been thoughtfully upgraded with modern kitchens featuring quartz countertops, custom cabinetry, stainless steel appliances, and beautifully finished bathrooms. Every apartment includes central HVAC, in-unit washer/dryers, and dishwashers, providing the modern amenities today’s renters expect while minimizing maintenance concerns for ownership.

Significant capital improvements have been made to the building’s infrastructure, including new electrical systems with upgraded service, a new water main, new roof layer, and steel support beams in the basement for enhanced structural integrity. Additional updates include new porches and new windows where needed. With its desirable location, high-end finishes, and extensive upgrades, this asset offers investors a rare opportunity to acquire a stabilized, low-maintenance building in one of Chicago’s most dynamic neighborhoods.

Highlights

  • Twelve (12) Unit Multifamily Asset in Popular Pilsen Neighborhood
  • All Units Completely Renovated in 2019 with New Kitchens and Baths
  • Washer & Dryer, Dishwasher and Central HVAC in All Units
  • Newer 600 AMP Electric Service to Building
  • Newer Roof Layer and Steel Support Beams in Basement
  • Newer Porches in Rear and Roof Maintenance

Key Details

Sale Price
$2,454,000
Submarket
Pilsen
Number of Units
Twelve (12)
Cap Rate
7.00%
Proforma Cap Rate
7.44%