120 Keeney Street

Owned by the same family since 1986, this three unit upgraded and remodeled vintage brick building offers the opportunity to live in the first floor unit (newly remodeled and available) and have rental income from the top two units, or it is equally attractive as an investment property fully rented at a 6.4% cap rate. Annual gross income is $100,380 total. Desirable east Evanston location just two short blocks to the lake & South Blvd beach, and walking distance to both the CTA, Metra, Main St. shops, restaurants and Lincoln School. Each unit is approximately 2000 square feet with four exposures, hardwood floors, fireplaces, two full baths, 3 or 4 bedrooms, office and front sun room. The first floor is reconfigured to feature a larger master bedroom, both brand new and refinished hardwood floors, freshly painted, new lighting fixtures, two new vanities, large open kitchen with stainless steel appliances, freshly painted interior and open family room adjacent to the dining room. Perfect for a live in owner! The second floor has long term tenants. The third floor was recently rented with a year lease. The basement is used for storage, coin laundry (estimated at $2880 annually) and an additional private finished room previously used by the owner. There is a five car on-property brick garage (currently providing additional rental income of $2700 annually). Garage is in AS IS condition. There are two additional exterior parking spaces by the back porch. All parking is accessed by the private side driveway from Keeney St. Major improvements since 2019: new modified rubber roof, repaired parapet walls, tuck pointing as needed, new boiler, new porch floors, exterior painting, back porch repairs and painting, and interior lobby and third floor unit painting. Other improvements include four separate circuit breaker boxes, two hot water heaters, and several new appliances and bathroom fixtures. Broker accompanied first showings of first floor unit only. 48 hour notice required for upper floors.