348 W 74th St 38 Unité Immeuble d’appartements 3 699 188 $ CAD (97 347 $ CAD/Unité) 10% Taux de capitalisation Chicago, IL 60621

Interra Realty has been exclusively engaged to market 348 W. 74th Street for sale. Located in Chicago's Grand Crossing neighborhood, The subject property is comprised of 38 apartments. The property is an attractive courtyard style apartment building with six separate entrances.
The unit mix at the property is comprised of studios, one-bedroom and two-bedroom layouts. All apartments include new stainless steel appliances and a mixture of hardwood and vinyl flooring, with recent paint and trim work. In addition, every unit has individual electric panels. Further recent improvements include a new tear o? roof (2024), refabricated exterior steel porches (2024), two new hot water storage tanks (2023 & 2024), a fully built out laundry room and updated lobbies and hallways. The property has been approved for AHSAP, reducing the assessed value by 25% starting in 2025.
The property presents qualified investors with a unique opportunity to own a recently stabilized and improved apartment building, that o?ers double digit cash on cash returns. Additionally, there remain a few below market rents that present an new owner with additional value creation by continuing the proven value add concept already in place.