1628 N Drake Ave,
Chicago, IL 60647
Sq. Ft.
1628 N Drake Ave , Chicago, IL 60647 1628 N Drake Ave , Chicago, IL 60647 1628 N Drake Ave , Chicago, IL 60647

Executive Summary

Excellent opportunity to own a recently rehabbed 3-unit less than 2 blocks from the 606 in Logan Square. 1628 N Drake features three large apartments, including two three-bed one-bathroom units and one two-bedroom one-and-a-half-bathroom unit, each with excellent large living spaces and kitchens. 1628 N Drake features new kitchens and baths, furnaces, copper plumbing, tankless water heaters, in-unit laundry, stainless steel appliances, and new windows. Gated parking pad in the back allows for 3+ cars. Excellent opportunity for an owner occupant or investor. Separate utilities. Tenants pay for heat and electric. 1628 N Drake provides a turnkey property with strong cash-flows on day 1 (in-place cap rate 7.12%) and presents additional upside potential due to below-market rents (pro forma cap rate 8.00%)

Property Location

Chicago » 60647 » 1628 N Drake Ave,

Property Details

Status Closed
Listing Type For Sale
Property Type Multi-Family
Price $660,000
Cap Rate 7.12%

Broker Contact

Nate Gautsche

Nate Gautsche, CCIM

Mobile: (312) 925-2521

Office: (773) 327-9300

Email: NateG@crer.com

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