By-right 8-unit conversion of a striking historic 1892 masonry church in East Humboldt Park. RM-5 zoned, full plans by SPACE Architects, permit pending - move straight into construction at closing. Arched windows, decorative brick corbelling, and a soaring street-facing tower give the 3,000 SF shell a presence new construction can't replicate. Architectural plans call for 6,000 SF net rentable across four (4) one-bed simplex + four (4) two-bed duplex-up units (two 2bd/2ba & two 2bd/1ba), plus addition of 4 surface parking spaces, 8 bicycle spaces, and exterior terraces for select units. Steps from North, Western & Division, near Paseo Boricua's restaurants and shops. Pro forma 7.07 cap rate, 9.69 GRM. Currently vacant.
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For more information about 1457 N Talman, Chicago, IL 60622 contact Corcoran Urban Real Estate.
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