Address
2001 W Race Avenue, Chicago, IL
Price
$ 3,800,000
Property Attributes
- MLS#11838468
- TypeMulti-Family
- CountyCOOK
- CityChicago
- AreaCHI - West Town
- NeighborhoodWest 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
| Additional Parcels Y/N | Yes |
|---|---|
| City | Chicago |
| Cooling | Central Air |
| County | Cook |
| Current Use | Multi-Family |
| Days on Market | 113 |
| Directions | Grand Avenue to Damen Avenue, one block south to Race Avenue. |
| Electric | Circuit Breakers, Separate Meters |
| Gross Income | 274083 |
| Lot Size Square Feet | 4416 |
| MLS Area | CHI - West Town |
| Net Operating Income | 165085 |
| Operating Expense | 95294 |
| Possession | Closing |
| Property Type | Commercial Sale |
| Property Type | Multi Family 5+ |
| Standard Status | Active |
| Status | Active |
| Stories | 4 |
| Street Name | Race |
| Tax Annual Amount | 29334 |
| Tax Year | 2021 |
| Tenant Pays | Varies by Tenant |
| Total Units | 7 |
| Township | West Chicago |
| Year Built | 2009 |
| Zoning | MULTI |
Interior Features
| Street Suffix | Avenue |
|---|
Exterior Features
| Building Area Total | 11817 |
|---|---|
| Lot Dimensions | 48X92 |
| Total Parking | 6 |
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
Taxes
Visits
Year Built
Walkscore
