Chase on the Park 7319 N Rogers Ave 16 Unit Apartment Building $3,605,351 CAD ($225,334 CAD/Unit) 7.03% Cap Rate Chicago, IL 60626

7319 N. Rogers Ave. is a 16-unit walk-up apartment building located in Chicago's Rogers Park neighborhood.
The Property consists of sixteen one-bedroom/one-bathroom apartments, all but one of which have been rehabbed since 2018 and include new floors, quartz countertops, subway tile backsplashes, new cabinetry, stainless steel appliances, and new bathrooms. The property generates additional income through on-site coin-operated laundry and garage parking. Of the 12 total garage spaces, 10 are currently income-producing, with one occupied by a dumpster and one reserved for building management. Converting these two spaces to rentable parking presents a straightforward value-add opportunity.
A new owner may choose to rehab the one remaining unrenovated first-floor unit and increase rent by $685 per month as proven by a similar unit in the building. Thus, one could potentially add $7,190 in net operating income, or about $102,300 in value to the property (at a 7.03% cap rate).
7319 N. Rogers Ave. benefits from an exceptional transit-oriented location, with Howard Station (Red/Purple/Yellow Lines) approximately a 10-minute walk and the Rogers Park Metra station (UP-North Line) approximately a 9-minute walk, offering express service to the Loop in 15–23 minutes. The property is also within close proximity to the Clark Street retail corridor, Loyola University Chicago, Touhy Park, and the Lake Michigan shoreline, amenities that consistently drive strong rental demand in the neighborhood.