Prime Lincoln Park Location: This turnkey renovated 4-unit investment property is located in one of the most sought-after areas of Lincoln Park. It offers easy access to world-class restaurants, bars, shopping, and DePaul University. Recently Updated: All units have been recently updated with large, modern kitchens and bathrooms, making them attractive to tenants and adding value to the property. Flexible Configuration: This former 4-unit condo association could be converted back to individual units and sold separately, providing an opportunity for potential profit. Duplex/Two-Level Apartments: 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. Parking Spaces Included: The property comes with two parking spaces that are currently rented by tenants, with the potential for a third parking space for a smaller car. Large Rear Yard: The property also features a large rear yard, providing tenants with a private outdoor space. New Roof in April, 2022. High Demand Area: Lincoln Park is a high-demand area with low vacancy rates, making this property an excellent investment opportunity. Increasing Rental Income: Rental income has been increasing annually, with an actual revenue increase of over $8k in 2023 YOY. Strong Financial Performance: With a net operating income of $100k+ this property offers strong financial performance and potential for long-term appreciation. Potential for Condo Conversion: The property was formerly four separate condominiums, which could be an option for future investors to convert back and sell off single units. 48 Hours Notice Required: Viewings of the property require 48 hours notice due to tenant occupancy.
