$5,500,000
5689 N Lincoln, Chicago, IL 60659
Current Rent **
$10,000+
Projected Rent **
$10,000+
Prime 6-Unit Investment Opportunity in Thriving West Ridge- Value Add To Increase to 9 Units
Located in the diverse and steadily appreciating West Ridge neighborhood—Community Area 02 of Chicago—this newly constructed 6-unit property presents a rare, turn-key investment with immediate cash flow and long-term upside.
Currently 100% occupied, the building produces a strong gross income of $265,200 annually, with low operating expenses of just $45,000, resulting in an impressive Net Operating Income of $220,200. Built for efficiency and minimal maintenance, this modern asset is ideal for investors seeking a hands-off, cash-flowing property from day one.
Even more compelling, architectural drawings are available to build 3 additional units on the lot. Zoning & permits have been approved for construction of these additional units. With these units added, the projected gross income increases to $361,200, and projected net income rises to $274,100, offering a rare value-add opportunity in one of the city’s more affordable and under-the-radar rental markets.
West Ridge is known for its strong sense of community, diverse population, and proximity to amenities like Indian Boundary Park, Warren Park, and Loyola University. With solid public transit options, access to major thoroughfares, and a growing rental demand, this neighborhood is gaining the attention of savvy investors. Tenants enjoy a quiet residential setting with easy access to shopping, schools, and cultural attractions.
Don't miss this unique opportunity to own a low-maintenance, high-performing asset in a neighborhood with strong fundamentals and room to grow.
Contact Eugene Beckles- Kale Realty (312)627-9053 (License # 475.188942); or CARMEN B MAUGERI- l(312) 939 5253 (License # 475181549)
Financials and drawings available upon request.
Investment Highlights
Each of the 6 units is 1,800 SF open-concepts features 3 spacious bedrooms, 2.5 lavish bathrooms, and a den, along with luxury finishes and a private balcony, in order to create bright and airy spaces perfect for professionals and families alike.
The UPSCALE AMENITIES include
Stainless Steel Appliances
Chef-Inspired Kitchen w/ Island
Large Format Windows
Navien Tankless Hot Water Heater
Empire Gas Fireplace
Rheem Achiever Individual HVAC
Full-Size Stacked Washer / Dryer
Garage Parking
Location:
5689 N Lincoln, Chicago, IL 60659
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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