2122 N Springfield Avenue
Chicago, IL 60647

Tools & Resources:

Description

Turn-key Logan Square investment opportunity. Rare chance to acquire a fully gut-rehabbed five-flat on an oversized lot, tucked away on a quiet residential block just steps from Mozart Park and a quick three-minute bike ride to the 606 Trail. The building underwent a comprehensive gut renovation in 2019, including new gutters and downspouts, windows, rear steel porch, wrought iron fencing, all new underground plumbing and water service, new water heaters, and new electrical service and wiring throughout. Each unit features its own individually controlled HVAC system with central heat and air. Interior finishes include hardwood floors, exposed brick, excellent natural light, and in-unit washer and dryers. Updated kitchens offer quartz countertops, 42-inch cabinetry, tile backsplash, and stainless steel appliance packages with dishwasher and micro-hoods. The basement includes a dedicated bike storage room plus additional storage. The property also offers a fully fenced yard and five rear parking spaces. A true hands-off asset in one of Chicago's strongest rental neighborhoods. Broker Owned.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60647
• Year Built: 1930
• Sq.Ft.: 5,200 sq ft
• Stories: 2
• Units: 5 units
• Zoning: MULTI
• # Of Dishwashers: 5
• # Of Dryers: 5
• # Of Ranges: 5
• # Of Refrigs: 5
• # Of Washers: 5
• Approximate Age: Older
• Building Area Total: 5200
• Built Before 1978 (Y/N): Yes
• Cap Rate: 6
• Construction Materials: Brick
• Cooling: Central Air
• Directions: Drive to the corner of Springfield Ave and Shakespeare
• Electric: Service - 201 to 600 Amps
• Electric Expense: 100
• Expense Year: 2024
• Fuel Expense: 75
• Gross Income: 121860
• Gross Rent Multiplier: 10.9
• Gross Scheduled Income: 110400
• Heat/Ventilation: Central Heat/Indiv Controls, Forced Air, Gas
• Information: List Broker Must Accompany
• Insurance Expense: 4200
• Land Amenities: Lighting/Exterior, Security Entrance, Sidewalks
• Location: Corner
• Lot Size Square Feet: 5375
• Main Type: Commercial Sale
• Maintenance Expense: 3045
• Manager Expense: 6093
• Operating Expense: 29943
• Outdoor Parking: 1-5 Spaces
• Roof Structure: Flat
• Tax Annual Amount: 23787
• Tax Year: 2024
• Tenant Pays: Air Conditioning, Electricity
• Total Annual Expense Source: Actual
• Total Monthly Income: 10155
• Township: Jefferson
• Type Multi-Family: Flats
• Water Sewer Expense: 2472