About the Listing 88014 - 115912,228317

Classic 3-story Chicago Greystone 6-unit investment property in prime Little Italy and UIC Medical District location. Fully stabilized with significant capital improvements. This is not a deferred maintenance project. Extensive structural and systems upgrades substantially reduce near-term capital exposure. Improvements include a full tear-off roof, rebuilt parapet and coping, masonry restoration, new brickwork at the rear of the building where the covered porch stairway was removed, and a new rear 3-story steel stairway, as well as private decks for the rear units and easy ladder-roof access, sewer line replacement, upgraded electrical service (600+ amps to the building and 100-amp breakers in each unit), copper plumbing, steel electrical conduit, 5 of the 6 units have been beautifully renovated with consistent finishes: hardwood floors, granite countertops in kitchens and baths, stainless steel appliances (refrigerator, oven/range, microwave, and dishwasher), soaring 9'9" ceilings, recessed lighting, crown molding, ceiling fans, large pantry closets (many with windows). Five of the 6 units include separate, energy-efficient mechanicals: (3-year-old Trane central air conditioning systems and individually controlled Trane gas furnaces) vented vertically through the chimney raceway, along with a dedicated water heater in each residence. All systems are serviced annually. All new windows include upgraded treatments. Kitchen and bath exhaust systems vent vertically through the roof. Ownership has prioritized long-term tenant stability over aggressive rent increases, resulting in strong occupancy and below-market in-place rents. On-site laundry, six private storage bins included in rent. Rear 2-car parking has never been offered for rent, providing immediate income potential. The 1-Front unit offers optional duplex expansion utilizing the front basement area, which includes existing toilet plumbing and front windows, creating potential for additional bedrooms and expanded living space (buyer to verify zoning and feasibility). Strong in-place income with upside through parking monetization and gradual rent optimization. Family-managed with consistent operating performance. Full financial documentation, including rent roll, income and expense statements, and capital improvement summary, is provided in the Additional Information section of the MLS listing. Most showings will be limited to once per week, with at least 48 hours' notice to accommodate current residents.

Listing Highlights