Property Overview
Interra Realty has been exclusively engaged to market 1523 & 1532 W. Chicago Avenue in West Town.
1523 W Chicago consists of fifteen (15) apartments and an Italian restaurant tenant, Provare, in addition to an underground speak-easy. 1532 W Chicago comprises of eight (8) apartments and a liquor store as the commercial tenant.
The properties were gut rehabbed in 2017 & 2019 with new kitchens, high end bathrooms, modern cabinets, SS appliances, quartz countertops, tile backsplash, high end matte black plumbing fixtures and garbage disposals. Apartments also include in-unit laundry, individual furnaces, Nest thermostats and new door entry systems.
Potential investors have the opportunity to acquire a trophy asset in a sought out Chicago neighborhood as a future 6.5% cap rate.
Highlights
- Gut-Rehabbed Between 2017-2019
- Luxurious Apartment Finishes and Strong Commercial Tenant
- Prominent Location Within the Submarket
- Walking Distance to Retailers, Restaurants and Public Transportation
Key Details
1532 W. Chicago Ave. - Eight (8) Apartments and One (1) Retail Space.
1523 W. Chicago Ave. - Fifteen (15) Apartments and One (1) Retail Space)
Pro Forma: 6.45%
Pro Forma - 10.83