Orange Package
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Orange Package
2 Residential Properties Offered at £10,589,535 in Chicago, IL
Investment Highlights
- Professional Offering Memorandum Available Upon Request
- Desirable Mix of Mostly Two and Three-Bedroom Units
- Opportunity for Investor to Achieve Stellar Cash Returns with Assumable Below-Market Interest Rate, Higher Leverage Debt
- Favorable Assumable Debt: Total Balance of $8.79MM [65% LTV at List], 3.83% IR, 9 Year Term Remaining
- Stabilized, Cash-Flowing Portfolio with Strong Rental Upside
Executive Summary
Essex Realty Group, Inc. has been exclusively engaged to market for sale of a 2-building, 140-unit portfolio located in Chicago’s Lawndale neighborhood. The properties are located at 1860 S Karlov Ave and 4662 W Maypole Ave.
This portfolio features a favorable unit mix of mostly [87%] two- and three-bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this portfolio’s cash flow is the assumable debt. The portfolio has an assumable loan with a balance of $8,795,000 [65% LTV at list] and a below-market interest rate of 3.83%.
This portfolio presents the rare opportunity to acquire a stabilized portfolio with a desirable unit mix and achieve stellar cash-on-cash returns with a low rate, good leverage assumption.
This portfolio features a favorable unit mix of mostly [87%] two- and three-bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this portfolio’s cash flow is the assumable debt. The portfolio has an assumable loan with a balance of $8,795,000 [65% LTV at list] and a below-market interest rate of 3.83%.
This portfolio presents the rare opportunity to acquire a stabilized portfolio with a desirable unit mix and achieve stellar cash-on-cash returns with a low rate, good leverage assumption.
Property Facts
| Price | £10,589,535 | Number of Properties | 2 |
| Price / SF | £82.15 / SF | Individually For Sale | 0 |
| Net Initial Yield | 9.50% | Total Building Size | 128,900 SF |
| Sale Type | Investment | Total Land Area | 4.69 AC |
| Status | Active |
| Price | £10,589,535 |
| Price / SF | £82.15 / SF |
| Net Initial Yield | 9.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 128,900 SF |
| Total Land Area | 4.69 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Karlov Gardens
1860 S Karlov Ave, Chicago, IL 60623 |
Residential | 118,900 SF | 1970 | - |
| 4658-4662 W Maypole Ave, Chicago, IL 60644 | Residential | 10,000 SF | 1926 | - |
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Robert Berman -
Essex Realty Group
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