2537 North Wayne Avenue, Chicago, IL

About 2537 North Wayne Avenue

FULLY RENOVATED 4 UNIT INVESTMENT PROPERTY. AAA+++ LINCOLN PARK LOCATION. 2022 GROSS INCOME $145,200, $108K NOI, 6.11 CAP & 12.22 GRM. HIGH DEMAND LOW VACANCY LOCATION NEAR WORLD CLASS RESTAURANTS, BARS, SHOPPING AND DEPAUL UNIVERSITY ALL VERY CLOSE. ASSET WAS FORMERLY 4 SEPARATE CONDOMINIUMS WITH INDEPENDENT UTILITIES FOR EACH DUPLEX UNIT. MULTIPLE PROPERTY PINS WERE COMBINED INTO SINGLE PIN IN 2020. UPCOMING TAX ASSESSMENT FOR 2021 WENT DOWN 4.94%. ALL APT. RENTS LEASED INTO 2023. ALL UNITS RECENTLY UPDATED INCLUDING LARGE UPDATED KITCHENS AND BATHS. EACH UNIT HAS CENTRAL HEAT/AC, WATER HEATER, GAS LOG FIREPLACES AND LAUNDRY IN-UNIT. EACH INCLUDES A TWO-LEVEL LAYOUT: 1F OFFERS A 2020 UPDATED 3 BED 2 BATH, 1R OFFERS A 2020 UPDATED 2 BED 2 BATH APARTMENT; 2F IS A TOP FLOOR TWO-LEVEL 3 BED 2 BATH APARTMENT AND 2R OFFERS AN UPDATED TWO-LEVEL 3 BED 2 BATH APARTMENT. TWO DEEDED PARKING SPACES ARE CURRENTLY INCLUDED AND ARE RENTED BY 2F AND 2R. THERE IS A SMALLER SPACE THAT COULD BE USED FOR A 3RD PARKING SPOT FOR A SMALLER CAR. LARGE REAR YARD. HIGH DEMAND AREA WITH INCOME GROWTH POTENTIAL. REQUIRE 48 HOURS NOTICE. TRANSFERRABLE BASEMENT WATERPROOFING ON NORTH WALL IN 2020. NEW ROOF TEAR OFF/REPLACEMENT IN APRIL 2022. REQUIRE 48 HOURS NOTICE.

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