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Active Under Contract

14 S Leavitt Street

14 S Leavitt Street, Chicago, IL 60612

$1,725,000
Rare opportunity to find a newer construction apartment building at this price point with upside opportunity. This impressive 7-unit property, originally built as condos in 2004, offers an attractive real estate investment in a prime location. This solid brick and block construction building features elevator service to all floors. The building consists of six spacious 2-bedroom, 2-bathroom units and 1 store front (or 7th apt) and 6 attached garage spaces. The 7th unit features a separate entrance from the sidewalk, making it ideal for a small business office space or short-term rental. Located on the Near West Side of Chicago, walking distance to the United Center Arena, Madison St bus lines, Illinois Medical District, and expressways. Tenants will love the easy commutes and convenient access to amenities, entertainment, and transportation. The property currently operates at a 5.7% CAP rate, with a strong Net Operating Income (NOI) of $97,571. Rents are considerably below market and present the opportunity to increase cash flow and ultimately property value, with new leases. We project an NOI of $131,120 and corresponding CAP rate of 7.6% when new rents are put in place. With its newer construction, prime location, versatile floor plans, and the potential for future rent growth & value enhancement, this 7-unit apartment building represents a solid investment choice. Call today.

8,000 Sq.Ft. LIVING AREA

3,300 Sq.Ft. lot

Kevin Hinton

Kevin Hinton

Features & Amenities

Area & Lot

  • Status Active Under Contract
  • Living Area8,000 Sq.Ft.
  • Lot Area3,300 Sq.Ft.
  • MLS® ID11997796
  • TypeCommercial
  • YEAR BUILT2004
  • NeighborhoodChicagoland

Exterior

  • STORIES4
  • AIR CONDITIONINGCentral Air
  • SubstructureConcrete Perimeter

Financial

  • Sales Price$1,725,000
  • Real Estate Tax $29,092/yr
  • Zoning MULTI
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Schedule a Showing

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.

Thank you for your interest in 14 S Leavitt Street, Chicago, IL 60612. We are reviewing your request and will be in touch shortly!

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