1615-19 W. Highland is a rare turnkey investment opportunity in the popular Edgewater neighborhood. The property sits on an oversized 66 x 176 lot with a beautiful brick 9 unit building in front and a A-frame coach house in the rear. Renovated in 2021, the building contains an excellent unit mix of three (3) 3 bed / 1 bath units and six (6) 3 bed / 2 bath units. No stone was left unturned as the coach was duplexed up to a 4 bed / 3 bath apartment and a separate 1 bed / 1 bath below. Additional income is provided through 10 garage spaces and two (2) nonconforming 2 bed / 1 bath garden units in the front building. The property caters to both the local Edgewater population and to the nearby Loyola University student population. All units feature modern kitchens with stainless steel appliances, exquisite hardwood flooring, modern bathroom finishes with designers touches and in-unit laundry. A new owner can acquire a cash flowing asset with great in place income from day one. There is also the future option of leveraging Chicago's Accessory Dwelling Unit (ADU) Ordinance, to create 12 legal units or simply continuing to run the asset as is. This is a stabilized investment property in an excellent location providing a solid cash-on-cash return for many years to come.
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For more information about 1615 W Highland, Chicago, IL 60660 contact Corcoran Urban Real Estate.
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Listing provided by Triton Realty Group LLC
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