1441-1455 W 103rd St., Chicago, IL 60643
1441 W 103rd Street
About This Property
Full Listing Description
HUGE VALUE-ADD OPPORTUNITY - Come check out this ICONIC mixed-use, value-add 12 unit building in Chicago’s incredible East Beverly neighborhood! This all-brick, beautiful building was built in 1904 and contains 6 retail storefronts on the main floor and 6 residential apartments on the 2nd floor. Sitting on one of Beverly’s main thoroughfares - 103rd street, this property provides retail owners a ton of vehicle and foot traffic to bring in business. Both the apartments and storefronts have been easy to rent quickly with little to no marketing effort. The property sits on a giant lot with a massive garage to the South of the main building. This area provides a ton of opportunity to the new buyer potentially for the addition of more units, storage or covered / enclosed garage space to generate additional revenue. Rents are currently way under market with plenty of room for increases with efficient management. The back of the building is also currently used as a small gathering spot for the tenants to relax, play and / or bbq. All tenants have central HVAC for heating and cooling which was upgraded in the early 2000s. Roofs have been resealed in the past 5 years. Over a dozen parking spots in the rear of the building as well. Currently priced at over an 8 CAP but with better management and getting rents to market this could easily be a 10+ CAP building. This property has unlimited potential and upside with the right plan. Schedule a showing today!
- 8.4% CAP rate at the current asking price — rents are well below market with clear upside potential to reach 10%+ CAP with efficient management
- 12 units total: 6 ground-floor retail storefronts on one of Beverly's main thoroughfares with strong vehicle and foot traffic, plus 6 second-floor residential apartments
- All-brick construction built in 1904; central HVAC upgraded in the early 2000s; roofs resealed within the past 5 years
- Giant rear lot with a detached garage and over a dozen parking spaces — potential revenue upside for covered parking, storage, or additional units
Complete Public MLS Data
Property Details
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