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3501 W Palmer St 4 Unit Apartment Building $1,074,225 CAD ($268,556 CAD/Unit) 8.07% Cap Rate Chicago, IL 60647
INVESTMENT HIGHLIGHTS
- Legal-4 unit building in an appreciating corridor of Logan Square with significant cash flow in-place.
- All units have furnaces and the large 4 bed / 1 bath duplex has central air conditioning.
EXECUTIVE SUMMARY
Introducing an exceptional investment opportunity located in the vibrant city of Chicago. This multifamily property features a 3,200 square foot low-rise garden-style building consisting of 4 units, each offering a combination of modern comfort and functionality. With its well-designed layout and attractive features, this property presents a lucrative opportunity for multifamily investors seeking a prime asset in a high-demand rental market. The strategic location and desirable architectural style make this property an enticing prospect for investors looking to expand their portfolio with a profitable asset with strong cash flow.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $1,074,225 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $268,556 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 8.07% | Building Size | 3,120 SF |
| Gross Rent Multiplier | 9.17 | No. Stories | 3 |
| No. Units | 4 | Year Built | 1897 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,074,225 CAD |
| Price Per Unit | $268,556 CAD |
| Sale Type | Investment |
| Cap Rate | 8.07% |
| Gross Rent Multiplier | 9.17 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,120 SF |
| No. Stories | 3 |
| Year Built | 1897 |
| Parking Ratio | 1/1,000 SF |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Refrigerator
- Basement
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $2,344 CAD | 650 |
| 2+1 | 2 | $2,551 CAD | 675 |
| 4+1 | 1 | $3,654 CAD | 1,200 |
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Walk Score®
Very Walkable (82)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 13-35-219-015-0000 | Total Assessment | $60,274 CAD (2024) |
| Land Assessment | $15,638 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $44,636 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
13-35-219-015-0000
Land Assessment
$15,638 CAD (2024)
Improvements Assessment
$44,636 CAD (2024)
Total Assessment
$60,274 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
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3501 W Palmer St
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