3041 S Normal Ave Chicago, IL 60616

Absolutely beautiful four (4) unit walk up located on a quiet, tee-lined street in the heart of Chicago's coveted Bridgeport neighborhood. With little turnover and high tenant retention, renters are attracted to its modern finishes and proximity to Chicago's Downtown. 3041 S. Normal is solely comprised of four (4) 1bd/1ba units, all of which boast open floorplans featuring beautiful hardwood floors throughout, renovated kitchens with granite countertops & maple cabinetry along with updated bathrooms. Furthermore, each unit is equipped with individual and separate gas forced air furnaces, central A/C, and water heaters/tanks, keeping owner utility expenses to a minimum. Additionally, there is a large communal backyard patio and a two (2) car garage, currently being compounded with rent. Rehabbed down to the bricks in 2005, renovations to the building consisted of, but are not limited to, a new roof, new porch, 100% copper plumbing, and new electric service & wiring, 3041 S. Normal offers an investor or owner occupant the perfect opportunity to acquire a positive, cash-flowing asset or option to live "rent free" with an incredibly low expense structure. from day one, the asset's next owner will inherit a property with historically low vacancy rates and an in-place cap rate of nearly 5%. Furthermore, and by stabilizing the long term, under market rents to market rate levels, there is an opportunity to achieve a 6.60% cap rate and a cash on cash return of over 10%.