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LOGAN SQUARE MULTIFAMILY INVESTMENT OPPORTUNITY

3501 West Armitage Avenue, Chicago, IL 60647

$995,000

Property Description

Triton Realty Group is pleased to present a 7 unit investment opportunity in one of Chicago's hottest neighborhoods, Logan Square. All units have substantial upside in rent upon renovation. This mixed-use asset currently consists of 4 - two bedroom apartments, 2 - one bedroom apartment units and a large retail space on the first floor and basement. Additionally, there is a newer built two+ car garage located in the back and a gated parking pad located in between. Property needs renovation. Major upside in rapidly appreciating area within Logan Square.

 

Known for its historical architecture, scenic boulevards, and expansive parks, Logan Square is one of Chicago’s most sought-after neighborhoods. Vibrant character, eclectic charm, proximity to downtown, and unique retail offerings have catalyzed Logan Square’s popularity and population growth. The Logan Theatre’s shining marquee serves as the neighborhood’s recognizable landmark. Marked by the Illinois Centennial Memorial Column, the namesake of the neighborhood is the public square at the intersection of Milwaukee Avenue, Logan Boulevard, and Kedzie Boulevard. Radiating from the square are bars, restaurants, coffee shops, and local businesses. Among the neighborhood, you’ll find unique eateries, Michelin-rated spots, funky noodle shops, pizza places with cult followings, and unexpected fusion concepts. Hip coffee houses, minimalist boutiques, and a Sunday Farmers Market (held throughout the year) round out the Logan Square experience.

Contact Agent

Matthew Fritzshall

(847) 778-8746

Edward Liss

(630) 251-4110

Harrison Cohen

(847) 624-6639

Property Details

Property Type

Multifamily

Year Built

1898

Year Renovated

NA

Current Cap-Rate

1.3%

Pro Forma Cap-Rate

7.7%

Property Highlights

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