3022-24-28 W Cermak Road, Chicago, IL 60623

The 2 Greystone buildings and dedicated parking lot are located in the next hot neighborhood. Think "Logan Square South". Many buildings in the area are being rehabbed and new condos are going up right across the street. The Pink Line EL train stop approximately 2 blocks from this location. Chicago has recently replaced much of the infrastructure in the neighborhood including water mains, sewer lines, sidewalks/ curbs, and street city-scape. The property is fully stabilized and has been well maintained. There are six 2-bedroom apartments. Every unit on both floors are spacious, comfortable and easily rented. Every space is fully updated with newer mechanicals, kitchen and baths. All residential tenants also enjoy shared outdoor space, both rear porches have been replaced with permits in the last few years. There is a 7 outdoor, off-street parking spots and a 3-car garage for a total of 10 spots but imagine 2 restaurants both sharing outdoor dining in the vacant lot in the future. Owner uses space in the property which is not accounted for in the income numbers. Some property rents are low for the market.