Jumbo 4-Unit Positive Cash Rental Property

Live for free in one of these 4 spacious units in this beautiful brick walk-up building with rental income from the other 3 units. Fantastic location near Andersonville on upper edge of Uptown just a block from Red Line, abundant shopping and four short blocks to BEACH and lakefront parks. Great cash flow, low maintenance investment property with 96% documented occupancy history since 1998. Each unit has 2 FULL baths and 3 LARGE bedrooms plus two extra closets. Hardwood floors and newer kitchens with dishwashers and ample cabinets. High ceilings, victorian touches, ceiling fans and cable in all rooms. Quiet and well-insulated windows and TONS of SUNLIGHT as there is no building to the east. Building zoned for 5 units per city. Wide staircase with large landings. No yard to maintain. Easy turn-key urban living. Two private historic iron terraces along side of building and large ROOFTOP DECK with LAKE VIEWS. Attractive built-in bookshelves and brick fireplaces in great rooms. BONUS SUNROOMS in top 3 units. Tidy laundry room in building with coin-operated machines generate $80-$100/mo. Highly efficient furnaces and Rheem AC units - TENTANTS PAY for ALL UTILITIES except water. Laundry hook-up plumbing in units. New water heaters, plumbing and electric. All units fully leased into 2006 with current rental income totaling $4,600/mo. With 20% down & today's low interest rates enjoy rare POSITIVE CASHFLOW from day 1! Also, building is ideal condo conversion candidate with 1 BR condos in neighborhood going for $200k+. These could be 2/3 BR 2 BA 1,400 sf condos worth between $300-$400k each.
Principals only please - 1031 exchangers welcome. Don't miss this prime opportunity to acquire a turn-key cash flow/condo convertable building for your portfolio on Chicago's beautiful north side near the BIG BLUE.

Asking Price  $829,000

We can finance it!

Fortress Real Estate 773/334-0700