4824 W. Addison St. Chicago IL 60641CRER
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4824 W. Addison St, Chicago, IL 60641
The property
Executive summary
Price subject to offer.
CRER has been exclusively retained to offer for sale this 32-unit apartment building located in the desirable Portage Park neighborhood of Chicago. This courtyard building, constructed in 1928, offers a unique opportunity to step into a stabilized asset with its mix of 19 one-bedroom and 13 studio units.
With a recent rehabilitation and 100% occupancy, this property boasts a strong potential for investors. Additional benefits include a submitted application for the Affordable Housing Special Assessment Program (AHSAP), which could reduce property taxes by 25% or 35%, and a recently implemented Ratio Utility Billing System (RUBS) to divide utility costs among tenants.
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