Logan Square 5.6% Cap Rate (8.5% after rehab)

[Brian Moore]

HIGHLIGHTS:

 Logan Square beauty, with full brick construction!

Great investment! Listed at a 5.6% cap rate (8.5% after rehab!) as multi-unit.

Great single family conversion candidate! Homes on the block have sold for up to $1M.

Recent work includes new windows, roof, skylights, tuckpointing, paint, and new concrete porch.

Upon rehab the rents are projected at $56,000 annually.

Large 25’x150’ lot with 2-car garage.

Operate as a 2-flat plus in-law (or get variance) for highest rent or rehab into a luxurious owner’s duplex up with first floor rental income.

Immediate Airbnb business potential with just light rehab and decorating needed.

Highest potential value is a single-family conversion. ($700,000+)

Submarket has strong demographics with high incomes, a growing population and high renter/buyer demand.

See Loopnet ad for Offering Memorandum attachment (with full details and pics)

Sold by IL Broker with ownership interest