Property Overview

Interra Realty has been exclusively engaged to market 3856 W Diversey Ave, a recently renovated condo-quality eight (8) unit multifamily property located in the highly sought after Logan Square neighborhood. This property is ideally located across the street from Thadeuz Park and around the corner from the heart of Logan Square and the Blue Line CTA.

The property has undergone recent renovations featuring updated kitchens and bathrooms in all units with granite counter tops, dishwashers and stainless steel appliances. The two former storefront units (3856-1 & 3156-2) underwent gut renovations and include in unit washer and dryers, higher end bathrooms, and central A/C and heat. The additional six (6) units feature updated kitchens and bathrooms, in-unit furnaces with window A/C units, large living rooms with dining rooms and pantries in the rear tiers. Recent capital improvements include newly installed windows where needed, tuckpointing of parapet wall and spot tuckpointing, all new water heaters(8 total), new electrical service to the building, front façade repairs, and a replaced and jetted sewage line.

Investors have the opportunity to acquire a recently updated multifamily property in the Logan Square neighborhood with value add upside via increasing rents to market rate.

Learn more about this transaction here

Highlights

  • Eight (8) Unit Multi-family Property in Popular Logan Square Neighborhood
  • Recently Renovated Units with Newer Kitchens with Granite C-Tops
  • Brand New Gut Rehabbed Units in Storefronts (2)
  • Central AC/Heat and Washer/Dryer in Unit for Two (2) Storefront Units
  • All New Hot Water Heaters (8), Recent Tuckpointing Work
  • New Electric Service, Newly Installed Windows Where Needed
  • Two Units with In-Unit Washer and Dryer, Common Laundry for Others

Key Details

TRANSACTION DATE
2022
NUMBER OF UNITS
Eight (8)
CAP RATE
6.0%
SUBMARKET
Logan Square