2537 North Wayne Avenue
2537 North Wayne Avenue
$1,725,000
11
8
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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...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. GRI $151K, NOI 113K GRM 11.4 puts this offering at a 6.56% CAP RATE return at full offer price well above Lincoln Park 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.
- Listed by James Gramata • @properties Christie's International Real Estate
- Listed by Michael McCoy • @properties Christie's International Real Estate
Property Details for 2537 North Wayne Avenue
Area
CHI - Lincoln Park
TownshipLake View
OwnershipFee Simple
Num Of Parking Spaces3.0
Parking Included in PriceYes
Heat/FuelNatural Gas
ZoningMULTI
Location
LISTING UPDATED: 03/19/2024 12:06 AM
Property Details for 2537 North Wayne Avenue
Status | Active |
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MLS # | 12003555 |
Days on Market | 76 |
Taxes | $24,473 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Two to Four Units / 4 Flat |
Year Built | 1896 |
Lot Size | 0.07 AC / 3,125 SF |
County | Cook County |
Building
Location
Building Information for 2537 North Wayne Avenue
Stories3Residences4Year Built1896Building Size-Lot Size0.07 AC / 3,125 SF
Payment Calculator
$11,453 per month
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Property Information for 2537 North Wayne Avenue
Property History for 2537 North Wayne Avenue
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.
Schools near 2537 North Wayne Avenue
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 8 | |||
Charter - | K to 8 |
Rating | School | Distance |
---|---|---|
Mayer Elementary School PublicPK to 8 | ||
Lincoln Park High School Public9 to 12 | ||
Hawthorne Elementary Scholastic Academy PublicK to 8 | ||
CICS Bucktown CharterK to 8 |
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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