Seller's Agent in 2024
James Gramata
@ Properties
(773) 270-2474
2 in this area
15 Total Sales
2537 N Wayne Ave Chicago, IL 60614
West DePaul Neighborhood
11
Beds
8
Baths
--
Sq Ft
--
Built
About This Home
As of September 2024AAA+++ 4 unit investment property in Lincoln Park. Turnkey, fully updated in 2020. Rock solid building. Located one street east of Southport on one of the most desirable blocks in Lincoln Park. Offers easy access to world-class restaurants, bars, shopping and Red/Brown/Purple line transfers at nearby Fullerton stop. Great for commuting tenants. All units have been recently updated with large, modern kitchens and bathrooms, making them attractive to professional tenants with little to no vacancies historically. These units were formerly four separate condos with individual PINs. Each unit is a duplex/two-level apartment with individual central heat and AC, water heater, gas log fireplaces, and in-unit laundry, making them highly desirable to tenants. The property comes with two assigned outdoor parking spaces with the potential for a third parking space for a smaller car. The property also features a large rear yard, providing tenants with a private outdoor space. New Roof in 2022. Lincoln Park is a high-demand area with low vacancy rates, making this property an excellent investment opportunity. This property offers strong financial performance and potential for long-term appreciation. Rental income has been increasing annually and just increased again. GRI $155K, NOI 112K GRM 11.1 puts this offering well above Lincoln Park CAP valuations. Formerly four separate condominiums with separate electric and HVAC. Viewings of the property require 48 hours tour notice due to tenant occupancy. Information deemed reliable but buyer should perform their own due diligence.
Last Agent to Sell the Property
@properties Christie's International Real Estate License #475113001 Listed on: 03/13/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $24,473
Year Renovated
- 2020
Home Design
- Frame Construction
Bedrooms and Bathrooms
- 11 Bedrooms
- 11 Potential Bedrooms
- 8 Bathrooms
Parking
- 3 Parking Spaces
- Uncovered Parking
- Parking Included in Price
Utilities
- Heating System Uses Natural Gas
- Lake Michigan Water
Additional Features
- Basement Fills Entire Space Under The House
- Lot Dimensions are 25x125
Community Details
Overview
- 4 Units
Building Details
- Gross Income $153,600
- Net Operating Income $115,415
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/26/2024 09/26/24 | Sold | $1,605,000 | -7.0% | -- |
| 07/31/2024 07/31/24 | Pending | -- | -- | -- |
| 03/13/2024 03/13/24 | For Sale | $1,725,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $25,104 | $160,099 | $57,437 | $102,662 |
| 2024 | $25,104 | $160,099 | $57,437 | $102,662 |
| 2023 | $24,473 | $118,982 | $46,320 | $72,662 |
| 2022 | $24,473 | $118,982 | $46,320 | $72,662 |
| 2021 | $23,926 | $118,982 | $46,320 | $72,662 |
| 2020 | $29,061 | $130,452 | $22,233 | $108,219 |
Source: Public Records
Agents Affiliated with this Home
-
James Gramata
-
Michael McCoy
Seller Co-Listing Agent in 2024
Michael McCoy
@ Properties
(312) 532-2205
1 in this area
40 Total Sales
-
Daniel Xia
Buyer's Agent in 2024
Daniel Xia
Compass
(312) 632-9888
3 in this area
76 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12003555
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Based on information submitted to the MLS GRID. 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. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
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