Amazing opportunity to own an oversized 4-unit building on a dead-end street. The building sits on a 37 x 175 lot that is 100 feet from a public beach on Lake Michigan (here the waves crash from the back decks). Just steps off Loyola Campus-easy access to the Metra, L train, and Lake Shore Drive. Lease dates-Garden Mnoth to month @ 2425; unit 1-8/26 @ 3950; unit 2 - 2/28/26 @ 3750; unit 3 - 10/25 @ 3750. 166500 in rent a year. Units can be upgraded-tons of room for the rents to grow. All the units have full kitchens, in-unit laundry, forced heat, and central AC. large bedrooms and a large common family room. Units 1 to 3 have back decks. Parking in the back for up to 8 (tandem parking). All brick building. The owner covers electricity and heat with the rent. (legal 4 units w. all the elcectirc and gas seperate - owner pays them as part of rent) Gas for 2024 was 6915; electric for 24 was 7096; 2024 water was approx. 3k; 24 insurance was 5306- No garbage fees. 126k net after all expenses. The roof was changed in 2024, and all the mechanicals have been updated since 2021. Look at addition tab for info plus cap rate sheet (7.8% true cap rate)
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For more information about 1062 W Columbia, Chicago, IL 60626 contact Corcoran Urban Real Estate.
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