2537 North Wayne Avenue

Chicago, IL 60614

$1,725,000
Price
11
Beds
8
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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.
  1. Listed by James Gramata • @properties Christie's International Real Estate
  2. Listed by Michael McCoy • @properties Christie's International Real Estate

Property Details for 2537 North Wayne Avenue

Area
CHI - Lincoln Park
Township
Lake View
Ownership
Fee Simple
Num Of Parking Spaces
3.0
Parking Included in Price
Yes
Heat/Fuel
Natural Gas
Zoning
MULTI

Location

Listing Courtesy of @properties Christie's International Real Estate
Add your commute
LISTING UPDATED: 03/19/2024 12:06 AM

Property Details for 2537 North Wayne Avenue

StatusActive
MLS #12003555
Days on Market76
Taxes$24,473 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 4 Flat
Year Built1896
Lot Size0.07 AC / 3,125 SF
CountyCook County

Building

2537 N Wayne Ave

4 Units3 StoriesBuilt in 1896

Location

Listing Courtesy of @properties Christie's International Real Estate
Add your commute

Building Information for 2537 North Wayne Avenue

Stories3Residences4Year Built1896Building Size-Lot Size0.07 AC / 3,125 SF

Payment Calculator

$11,453 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,414

Property Taxes

$2,039

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2537 North Wayne Avenue

General Information
School Information
  • Elementary School District: 299
  • High School District: 299
  • Middle Or Junior School District: 299
Addtl Parking Information
  • Parking: Space/s
  • Parking On Site: true
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Num Of Rooms: 19
  • Bedrooms (Below Grade): 0
  • Basement Type: Full
  • Bedrooms Possible: 11
  • Basement Description: Finished
  • # Full Baths in Building: 8
  • # Half Baths in Building: 0
  • Num of Baths: 8.0
Utilities / Equipment
  • Sewer: Sewer-Public, Sewer-Storm
  • Water: Lake Michigan, Public
Property/Lot Information
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: Yes
  • Rehab Year: 2020
  • Built Before 1978: Yes
  • Age: Unknown
  • Lot Size: Standard Chicago Lot
  • Lot Dimensions: 25X125
  • Total # Units in Building: 4.0
  • Waterfront: No
  • Exterior Building Type: Frame
  • General Information: None
  • North Coordinate: 2537
  • South Coordinate: 0
  • East Coordinate: 0
  • West Coordinate: 1350
  • 3 Br Un In Bldg: Yes
  • Conversion: N
Property and Assessments
  • Public Document Count: 4
  • Document Date: 2024-03-14T22:25:10
  • Photos Count: 17
  • Deconversion: Y
  • OpenHouse Count: 0
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Income & Expenses
  • Gross Income: $148,800.00
  • Net Operating Income: $110,855.00
Unit 1
  • Unit Type Actual Rent: $3,300.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Lease Expiration Date: 05/24
Unit 2
  • Unit Type Actual Rent: $2,500.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Lease Expiration Date: 08/23
Unit 3
  • Unit Type Actual Rent: $3,300.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Lease Expiration Date: 06/24
Unit 4
  • Unit Type Actual Rent: $3,300.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 4
  • Lease Expiration Date: 08/24

Property History for 2537 North Wayne Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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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2537 North Wayne Avenue is a multi-family home for sale in Chicago, IL 60614. This property was listed for sale on March 13, 2024 by @properties Christie's International Real Estate, it's currently listed at $1,725,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Mayer Elementary School, Lincoln Park High School and Hawthorne Elementary Scholastic Academy. 2537 North Wayne Avenue is a 11-bed, 8-bath, multi-family home built in 1896.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of @properties Christie's International Real Estate

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.