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7349 N Damen Ave 26 Unit Apartment Building Offered at $4,885,720 CAD at a 7.12% Cap Rate Chicago, IL 60645
INVESTMENT HIGHLIGHTS
- Well Maintained Vintage Courtyard
- Stabilized 7.59% Cap Rate Post Master Lease
- PROPERTY IS SUBJECT TO RIGHT OF FIRST REFUSAL AND ANY OFFER SUBMITTED WILL BE SUBJECT TO THE EXERCISE OF THAT RIGHT
- (20) 2bd/1ba & (6) 1bd/1ba with Spacious Layouts
- Rare Opportunity to Acquire a Vacant-Ready Building on Chicago’s North Side
EXECUTIVE SUMMARY
Kiser Group has been exclusively engaged to market 7349-55 N. Damen Avenue, a 26-unit multifamily building located in Chicago’s desirable Rogers Park neighborhood. The property features a mix of spacious one-bedroom/one-bath and two bedroom/one-bath units, currently operated as a half-way house on a master lease till December 31st 2025. A new owner has the opportunity to reposition the asset by converting it to traditional multifamily use, unlocking significant value through cosmetic renovations to kitchens, bathrooms, and common areas. Additionally, current rents are well below market due to the property’s existing use, offering immediate upside through modern upgrades, improved leasing strategies, and professional management. This rare value-add opportunity allows an investor to capitalize on strong rental demand in a dynamic North Side location, while enhancing income through thoughtful improvements and repositioning.
PROPERTY FACTS Under Contract
| Price | $4,885,720 CAD | Property Type | Multifamily |
| Price Per Unit | $187,912 CAD | Lot Size | 0.35 AC |
| Sale Type | Investment | Building Size | 27,000 SF |
| Cap Rate | 7.12% | No. Stories | 4 |
| No. Units | 26 | Year Built | 1927 |
| Zoning | RT-4 | ||
| Price | $4,885,720 CAD |
| Price Per Unit | $187,912 CAD |
| Sale Type | Investment |
| Cap Rate | 7.12% |
| No. Units | 26 |
| Property Type | Multifamily |
| Lot Size | 0.35 AC |
| Building Size | 27,000 SF |
| No. Stories | 4 |
| Year Built | 1927 |
| Zoning | RT-4 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 650 |
| 2+1 | 20 | - | 1,000 |
1 1
Walk Score®
Very Walkable (86)
Transit Score®
Excellent Transit (79)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 11-30-408-005-0000 | Improvements Assessment | $276,437 CAD |
| Land Assessment | $58,398 CAD | Total Assessment | $334,835 CAD |
PROPERTY TAXES
Parcel Number
11-30-408-005-0000
Land Assessment
$58,398 CAD
Improvements Assessment
$276,437 CAD
Total Assessment
$334,835 CAD
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7349 N Damen Ave
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