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855 W Grace St
Chicago, IL 60613
Build-to-Rent Property For Sale
·
12 Units
PROPERTY FACTS
| No. Units | 12 | Total Plot Size | 0.14 ac |
| Property Type | Build-to-Rent | Property Size | 12,880 sq ft |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Floors | 3 |
| Costar Property Class | C | Year Built | 1912 |
| Use Class | RM-5 | ||
| No. Units | 12 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.14 ac |
| Property Size | 12,880 sq ft |
| Average Occupancy | 100% |
| No. Floors | 3 |
| Year Built | 1912 |
| Use Class | RM-5 |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Granite Countertops
- Wooden Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
ABOUT 855 W GRACE ST , CHICAGO, IL 60613
33 Realty LLC (“33”) is pleased to announce the opportunity to acquire 853-55 W. Grace (“the property”) a rarely available corner walk-up building in Chicago’s Lakeview Neighborhood. The property is located in an ideal neighborhood for young professionals who want to experience all that the famous northside neighborhood has to offer. Whether it be the vibrant night life, gourmet dining options, accessibility to public transportation, proximity to Lake Michigan, or walkability to Wrigley Field, the property is a perfect base camp for any young professional to explore the best that Chicago has to offer. The property provides an investor a unique opportunity to acquire an asset that has undergone a substantial renovation as well as implementation of professional management services. Recent improvements to the property include: • Renovation of all kitchens with granite counter tops, dishwashers and granite counters • Renovation of bathrooms with pedestal sinks, tile floor and tile shower surrounds • Dark stain and refinishing of original hard wood floors • Addition of closet organizers for bedroom closets • Addition of in-unit washer and dryer • Replacement of older plumbing with copper plumbing • New electrical service, drop and runs • New glass entryway doors • Addition of Butterfly keyless entry system • New hot water storage tank • New leases signed to roll off in prime rental season • Implementation of ratio utility billing system (‘RUBS”) for existing tenants The property has an excellent current unit mix of four (4) two-bedroom, one-bathroom units; four (4) two-bedroom, two-bathroom units; two (2) three-bedroom, one-bathroom units; and two (2) three-bedroom, two-bathroom units. While a turn key investor can enjoy the in place stabilized returns, those looking for additional opportunity can increase the already incredible bedroom count of 28 by adding three (3) duplex units into the large basement spaces to add additional rentable square footage in this roommate friendly neighborhood.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 2+1 | 4 | £2,050 | 800 |
| 2+2 | 4 | £2,110 | 925 |
| 3+1 | 2 | £2,300 | 800 |
| 3+2 | 2 | £2,750 | 1,300 |
PROPERTY TAXES
| Parcel Number | 14-20-222-001-0000 | Improvements Assessment | £70,951 |
| Land Assessment | £79,962 | Total Assessment | £150,914 |
PROPERTY TAXES
