1938-42 N Halsted Street , Chicago, IL 60614

Property Description

HUGE VALUE-ADD OPPORTUNITY - 6 unit, 2 building complex on a sought-after Halsted Street double lot. Located in the heart of Chicago's affluent Lincoln Park neighborhood, this property is offered at an exceptionally high 5.74% cap rate. Currently 100% leased at below market rents and also contains 9 exterior parking spaces which can be leased month-to-month or rented out to Spot Hero/ParqEx (not included in income assertions). The 1938 side features THREE 2-bed/1-bath units. The 1942 side features TWO 2-bed/1-bath units as well as a 3-bed/2-bath duplex-up apartment. Opportunity to either renovate unit interiors and increase rental rates OR teardown and build new apartments or condominiums across the double lot using the existing RT-4 zoning. 90-day kick-out clause on all existing leases. Showings by appointment only and requires a minimum of 72 hours' notice. Register your interest today, this opportunity will not last long!

Property Features