6 Notable Chicago Multifamily Sales In Jan 2014

6 Notable Chicago Multifamily Sales In Jan 2014

Seasonal activity of residential multifamily sales in Chicago may have slowed in January but plenty of Buyers and Sellers were still participating in the market.  Here's a list of 6 good income property buys across the north side neighborhoods of Chicago last month.

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HOTlist Properties - Bucktown Income Property On Double Lot

Chicago income property

Comments:

Nice residential development play here. Property consists of a large 3-flat (for the area) on a 48' x 100' lot with RT-4 zoning. The parcel appears to have only one PIN which means at this price the highest and best use is to tear down the building and build a 4-unit condo building, 2-single family houses or (1) large single family.  It will be interesting to see how this property gets redeveloped.  At $400K/lot, there's not a huge margin to be made but with property values continuing to rise in the Bucktown neighborhood, I think the buyer (new home builder?) will make out fine.

$800,000

2310-12 W Palmer St.
Chicago, IL 60647

Type:  Multifamily 3 unit & vacant lot
Total Units: 3
Total Rooms: 18
Total Bedrooms:  9
Total Baths: 3
Basement:  Full-unfinished
Parking:  TBD 
Lot Size:  48' x 100'
Year Built:  Unknown
Assessments:  n/a
Taxes:  $8,498.39
Grade School Dist:  #299
County:  Cook
Neighborhood: Bucktown

Information provided by:  Menard Johnson & Assoc., Allen Johnson

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Do you own a property in Chicago that you think a builder or investor would be interested in buying, either as tear down (land value) or a rehab project? Contact Brent Hall to request an offer today or choose to list your property for sale on the open market.

Brent Hall: 312-725-6171

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HOTlist Properties - Roscoe Village Tear Down

HOTlist Properties - Roscoe Village Tear Down

This is a land play for all you developers and builders out there.  Prime Roscoe Village / West Lakeview location.  25' x 125' lot, zoned RS-3. Recent sales put the value for this parcel in the $575,000 range.

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