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2537 Wayne Ave, CHICAGO, IL

Real Estate

Sold

Listed price in listed location currency (USD).
$1,605,000
$1,725,000

1183

MLS® 12003555

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage No
Taxes $24,473
Lot Size 
Approx. Age 
MLS® Number 12003555

Property Address: 2537 Wayne Ave, CHICAGO, IL, 60614-8219

Average square foot calculated using Size range provided by listing agent.

Description

AAA+++ 4 unit investment property in Lincoln Park. Turnkey, fully updated in 2020. Rock solid building. Located one street east of Southport on one of the most desirable blocks in Lincoln Park. Offers easy access to world-class restaurants, bars, shopping and Red/Brown/Purple line transfers at nearby Fullerton stop. Great for commuting tenants. All units have been recently updated with large, modern kitchens and bathrooms, making them attractive to professional tenants with little to no vacancies historically. These units were formerly four separate condos with individual PINs. Each unit is a duplex/two-level apartment with individual central heat and AC, water heater, gas log fireplaces, and in-unit laundry, making them highly desirable to tenants. The property comes with two assigned outdoor parking spaces with the potential for a third parking space for a smaller car. The property also features a large rear yard, providing tenants with a private outdoor space. New Roof in 2022. Lincoln Park is a high-demand area with low vacancy rates, making this property an excellent investment opportunity. This property offers strong financial performance and potential for long-term appreciation. Rental income has been increasing annually and just increased again. GRI $155K, NOI 112K GRM 11.1 puts this offering well above Lincoln Park CAP valuations. Formerly four separate condominiums with separate electric and HVAC. Viewings of the property require 48 hours tour notice due to tenant occupancy. Information deemed reliable but buyer should perform their own due diligence.
MLS® Number12003555
Laundry Level
Central VacNo
FireplaceNo
Acreage0
Exterior
GarageNo
Approx. Age
BasementFull
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Similar Listings

Price History

Jul 31, 2024End Date
$1,605,000Sold Price

Sold

Mar 13, 2024List Date
$1,725,000List Price
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2537 Wayne Ave, CHICAGO, IL

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