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3742 W Montrose Ave 9 Unit Apartment Building $1,135,307 CAD ($126,145 CAD/Unit) 6.92% Cap Rate Chicago, IL 60618
Investment Highlights
- 2 Car Garage
Executive Summary
3742 W. Montrose is a 9-unit mixed-use asset offered as part of the Gary R. Carlson Northwest Side Portfolio, located in Chicago’s Albany Park neighborhood. The building features nine total units, consisting of 3 studios, 2 one-bedrooms, 3 two-bedrooms, and one commercial space, providing a balanced and in-demand unit mix. Built in 1919 and offering 6,150 rentable square feet, the property has benefited from recent capital improvements, including a 2023 renovation of the roof, masonry, and windows. Situated near neighborhood amenities and public transit along Montrose Avenue, this building offers stable income with upside potential. B3-1 & Northwest ADU Pilot Zoning.
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- Offering Memorandum
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$143,569
|
$25.17
|
| Other Income |
$2,558
|
$0.45
|
| Vacancy Loss |
$7,306
|
$1.28
|
| Effective Gross Income |
$138,820
|
$24.34
|
| Taxes |
$18,046
|
$3.16
|
| Operating Expenses |
$42,241
|
$7.41
|
| Total Expenses |
$60,286
|
$10.57
|
| Net Operating Income |
$78,534
|
$13.77
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $143,569 |
| Annual Per SF | $25.17 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,558 |
| Annual Per SF | $0.45 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $7,306 |
| Annual Per SF | $1.28 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $138,820 |
| Annual Per SF | $24.34 |
| Taxes (CAD) | |
|---|---|
| Annual | $18,046 |
| Annual Per SF | $3.16 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $42,241 |
| Annual Per SF | $7.41 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $60,286 |
| Annual Per SF | $10.57 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $78,534 |
| Annual Per SF | $13.77 |
Property Facts Under Contract
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 425 |
| 1+1 | 2 | - | 650 |
| 2+1 | 3 | - | 800 |
1 1
Exceptionally walkable
100/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 13-14-126-023-0000 | Total Assessment | $89,519 CAD (2025) |
| Land Assessment | $15,542 CAD (2025) | Annual Taxes | $18,046 CAD ($3.16 CAD/SF) |
| Improvements Assessment | $73,977 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
13-14-126-023-0000
Land Assessment
$15,542 CAD (2025)
Improvements Assessment
$73,977 CAD (2025)
Total Assessment
$89,519 CAD (2025)
Annual Taxes
$18,046 CAD ($3.16 CAD/SF)
Tax Year
2024
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3742 W Montrose Ave
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