14 South Leavitt Street
14 South Leavitt Street
$1,725,000
12
12
1
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Description
Rare opportunity to find a newer construction apartment building at this price point with upside opportunity. This impressive 7-unit property, originally built as condos in 2004, offers an attractive real estate investment in a prime location. This solid brick and block construction building features elevator service to all floors. The building consists of six spacious 2-bedroom, 2-bathroom units and 1 store front (or 7th apt) and 6 attached garage spaces. The 7th unit features a separate entrance...Rare opportunity to find a newer construction apartment building at this price point with upside opportunity. This impressive 7-unit property, originally built as condos in 2004, offers an attractive real estate investment in a prime location. This solid brick and block construction building features elevator service to all floors. The building consists of six spacious 2-bedroom, 2-bathroom units and 1 store front (or 7th apt) and 6 attached garage spaces. The 7th unit features a separate entrance from the sidewalk, making it ideal for a small business office space or short-term rental. Located on the Near West Side of Chicago, walking distance to the United Center Arena, Madison St bus lines, Illinois Medical District, and expressways. Tenants will love the easy commutes and convenient access to amenities, entertainment, and transportation. The property currently operates at a 5.7% CAP rate, with a strong Net Operating Income (NOI) of $97,571. Rents are considerably below market and present the opportunity to increase cash flow and ultimately property value, with new leases. We project an NOI of $131,120 and corresponding CAP rate of 7.6% when new rents are put in place. With its newer construction, prime location, versatile floor plans, and the potential for future rent growth & value enhancement, this 7-unit apartment building represents a solid investment choice. Call today.
- Listed by Kevin Hinton • Keller Williams ONEChicago
- Listed by Ashley Carter • Keller Williams ONEChicago
Property Details for 14 South Leavitt Street
Area
CHI - Near West Side
ZoningMULTI
Location
LISTING UPDATED: 03/18/2024 12:06 AM
Property Details for 14 South Leavitt Street
Status | Active |
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MLS # | 11997796 |
Days on Market | 77 |
Taxes | $29,092 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Flats |
Year Built | 2004 |
Lot Size | 0.08 AC / 3,300 SF |
County | Cook County |
Location
Building Information for 14 South Leavitt Street
Stories-Residences7Year Built2004Building Size-Lot Size0.08 AC / 3,300 SF
Payment Calculator
$11,838 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 14 South Leavitt Street
Property History for 14 South Leavitt Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 14 South Leavitt Street
Taxable ValueLand$7,041Additions$90,968Total$98,009
Tax Record2022$20,227 ($1,686 / month)
Home Facts
StyleMulti-Family Res (5+ Units)CountyCOOKAPN17-18-101-093
Schools near 14 South Leavitt Street
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Charter - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Dett Elementary School PublicPK to 8 | ||
Marshall Metropolitan High School Public9 to 12 | ||
Chicago Bulls College Prep Charter9 to 12 | ||
CRANE MEDICAL PREP HS Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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