Interra Realty has been exclusively engaged to market 528 W. Oakdale Avenue, Chicago, for sale. The subject investment property is a rarely available, 60-unit multifamily asset in a prime East Lakeview location. The property is a “4+1” style building with a passenger elevator servicing four stories of apartments over ground-level parking and amenity space.
In the last 18 months, the property experienced a full modernization with market-leading unit finishes and common area amenities. The apartments maintain their original layouts, with generous floorplans that are convenient for working from home. All units have in-unit laundry, sleeve A/C, and hot water baseboard heat. Common area amenities include a fitness center, package room, additional laundry room, and outdoor seating.
Given the timing of the delivery of units post-rehab, the potential of the rent roll has not been fully realized. A new investor has the opportunity to acquire a core asset
in an irreplaceable Chicago location, and increase revenue by correcting circumstantial loss-to-lease in the rent roll.
- Prime East Lakeview Location, Steps from Lake Michigan
- Recently Modernized with High-End Finishes and Market-Leading
- Common Area Amenities
- Attractive Unit Mix with Spacious Floorplans
- Desirable Parking Ratio
- Ability to Push Rents by Capitalizing on Loss-to-Lease in Rent Roll