Active · For Sale · Multi Family 5+

1508-1512 W Farwell Avenue, Chicago, IL 60626

MLS opportunity selected in connection with 4936 Greenwood St, Skokie IL 60077

MLS #12676923

1508-1512 W Farwell Avenue, Chicago, IL 60626
1508-1512 W Farwell Avenue, Chicago, IL 60626CRER
1508-1512 W Farwell Avenue, Chicago, IL 60626

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1508-1512 W Farwell Avenue, Chicago, IL 60626

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The property

Executive summary

COURT YARD BUILDING! 22-Unit Apartment Building with 22 Parking Spaces - Prime Rogers Park Location. Exceptional investment opportunity in the heart of Rogers Park! This solid brick 22-unit multi-family building includes a rare 22 adjacent parking spaces, all included in the sale. The property has been mostly remodeled with updated kitchens and bathrooms, offering strong rental appeal and low maintenance moving forward. Roof is newer. Unit mix includes 2-bedroom, 1-bedroom, and studio apartments, providing versatility and broad tenant demand. There are 3 units that could easily be converted to 3 bedroom apartments. Additional highlights: On-site laundry for added income Walking distance to the Red Line train Strong rental location with historically low vacancy. Adjacent parking lot included. Prime transit-oriented location makes this a highly desirable rental property with stable income potential.

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Property Intelligence

Financial Snapshot

Reported Annual Income
$433,480
Reported Annual Expenses
$128,148
Estimated NOI
$305,332
Estimated Cap Rate
5.36%
Estimated GRM
13.15
Annual Taxes
$51,895 (2024)

Property Details

Units
22
Lot Size
17,200 SF
Lot Dimensions
100x172
Stories
5
Year Built
1963
Building Age
New Rehab
Construction
Brick
Zoning
MULTI
Parcel Number
11321150180000

Operations & Utilities

Heating
Central Bldg Heat
Electric
Circuit Breakers
Water Source
Municipal Water
Utilities
Sewer Connected, Water Available, Cable Available

Location & Use

County
Cook
Market Area
Chicago - Rogers Park
Township
Rogers Park
Present Use
Multi-Family
Potential Use
Condominium, Multi-Family
Location
Free Standing/Urban
Frontage
City Street

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.