Address
2001 W Race Avenue, Chicago, IL
Price
$ 3,800,000
Property Attributes
  • MLS#11838468
  • TypeMulti-Family
  • CountyCOOK
  • CityChicago
  • AreaCHI - West Town
  • Zip60612
  • StyleMulti-Family
  • Year Built2009
  • Taxes$ 29334
  • Price$ 3,800,000
  • Bedrooms6
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage11817
  • Lot Size4,416 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description

Exceptional West Town investment opportunity. Six spacious (1,600 sqft) condominium quality rental units with 6-car interior garage parking spaces, secure entry, and ground floor retail. Units feature open floor plans, wood flooring, high-end appliances and fixtures, soaring ceilings, outdoor balconies, floor to ceiling windows, and styl- ish modern architectural design. Two top floor penthouse units feature stunning city skyline views and spacious roof decks. Property generates $278,883 annual gross income. Location boasts strong demographics, with a 2023 one-mile population of 50,209, average annual household income of $130,268, walk score of 94 (Walker's Paradise) and Bike score of 97 (Biker's Paradise). Average apart- ment rent within 1-mile is $2.36 per square foot per month and vacancy rate is 3.7%. There are 538 multi-family properties within 1-mile for a total of 7,782 units, with 210 new units under construction, average cap rate is 5.9%.

Price History
7/20/2023 Listed $3,800,000

General Features

Cooling Central Air
Possession Closing
Zoning MULTI
Year Built 2009
Electric Circuit Breakers,Separate Meters
Tenant Pays Varies by Tenant
Stories 4
Township West Chicago
Tax Year 2021
Current Use Multi-Family
Gross Income 274083
County Cook
Net Operating Income 165085
Operating Expense 95294
Property Type Commercial Sale
Status Active
Directions Grand Avenue to Damen Avenue,one block south to Race Avenue.
City Chicago
Total Units 7
MLS Area CHI - West Town
Lot Size Square Feet 4416
Street Name Race
Tax Annual Amount 29334
Additional Parcels Y/N Yes
Days on Market 115
Standard Status Active
Property Type Multi Family 5+

Interior Features

Street Suffix Avenue

Exterior Features

Building Area Total 11817
Lot Dimensions 48X92

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 60612

Price
AVG $810K
$3.8M
Taxes
AVG $7,752
$29,334
Visits
AVG 205
878
Data Provided by Inside Real Estate®
Year Built
AVG 1926
2009
Walkscore
AVG 80
94
Data Provided by Walkscore® not using MLS data