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3214-3224 N Linder Ave
Chicago, IL 60641
Multifamily Property For Sale
·
6 Units
Executive Summary
3214–24 North Linder Avenue presents a renovated, six-unit multifamily asset in Chicago’s Belmont Cragin neighborhood, offering investors a strong acquisition with immediate, stable cash flow. The property has been thoughtfully updated throughout, featuring modern finishes, updated kitchens and baths, and well-maintained interiors.
The property is currently fully occupied with a stable tenant base, providing immediate and consistent in-place cash flow from day one. The unit mix consists of four 1 Bed / 1 Bath units and two 2 Bed / 1 Bath units, with average rents of approximately $1,516 per unit, supporting strong and predictable income across all six units. The building benefits from functional layouts and in-unit laundry in select units, contributing to tenant retention and long-term occupancy stability. Additionally, there is potential to further enhance revenue through the addition of rear parking, offering a clear path to incremental income with minimal capital investment.
The offering delivers a 7.15% cap rate on current income, providing investors with an attractive yield in a stable, workforce housing submarket. With no near-term capital requirements and consistent performance, the property is well suited for investors seeking a passive, cash-flowing asset in a proven Chicago neighborhood.
The property is currently fully occupied with a stable tenant base, providing immediate and consistent in-place cash flow from day one. The unit mix consists of four 1 Bed / 1 Bath units and two 2 Bed / 1 Bath units, with average rents of approximately $1,516 per unit, supporting strong and predictable income across all six units. The building benefits from functional layouts and in-unit laundry in select units, contributing to tenant retention and long-term occupancy stability. Additionally, there is potential to further enhance revenue through the addition of rear parking, offering a clear path to incremental income with minimal capital investment.
The offering delivers a 7.15% cap rate on current income, providing investors with an attractive yield in a stable, workforce housing submarket. With no near-term capital requirements and consistent performance, the property is well suited for investors seeking a passive, cash-flowing asset in a proven Chicago neighborhood.
Property Facts Under Contract
| Price Per Unit | $228,200 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Gross Rent Multiplier | 9.12 | Lot Size | 0.09 AC |
| No. Units | 6 | Building Size | 4,644 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1925 |
| Zoning | RS-3 | ||
| Price Per Unit | $228,200 CAD |
| Sale Type | Investment |
| Gross Rent Multiplier | 9.12 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 4,644 SF |
| No. Stories | 2 |
| Year Built | 1925 |
| Zoning | RS-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
Property Taxes
| Parcel Number | 13-21-327-016-0000 | Improvements Assessment | $59,965 CAD |
| Land Assessment | $16,178 CAD | Total Assessment | $76,143 CAD |
Property Taxes
Parcel Number
13-21-327-016-0000
Land Assessment
$16,178 CAD
Improvements Assessment
$59,965 CAD
Total Assessment
$76,143 CAD
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