1938-42 N Halsted Street

Chicago, Illinois 60614
Closed / MLS #10627392 / Multiple Family / Lincoln Park
Listing information updated 10/1/2020 at 9:03pm
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!

Full Features

Exterior Type:
Brick
Square Feet:
N/A
Acreage:
.07
Built:
1886
Parking Spaces:
9
Cooling System:
Central Air
Stories:
3
Roof:
Shingle Composition
Current Use:
Residential-Multi-Family
Potential Use:
Condominium
Zoning:
MULTI
Current Net Income:
$140,150
Unit 1:
5 room(s) / 2 bed(s) / 1 bath(s)
Unit 2:
5 room(s) / 2 bed(s) / 1 bath(s)
Unit 3:
5 room(s) / 2 bed(s) / 1 bath(s)
Unit 4:
5 room(s) / 2 bed(s) / 1 bath(s)
Unit 5:
5 room(s) / 2 bed(s) / 1 bath(s)
Unit 6:
6 room(s) / 3 bed(s) / 2 bath(s)

Taxes & Assessments

Tax Amount:
$33,751
Tax Year:
N/A

Location

Zip Code:
60614
City:
Chicago
County:
Cook

Listing Office: Chase Real Estate LLC

Listing Office Phone: 847.744.5003

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 10/1/2020 at 9:03pm. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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1938-42 N Halsted Street is a multiple family which sold for $2,000,000. This multiple family has been listed on @properties since February 4th, 2020 and was built in 1886. The nearest transit stops include Armitage CTA Brown line and Clybourn Metra Metra Union Pacific North line.