Set on a quiet, tree-lined block in the heart of Logan Square, 2838-40 North Albany Avenue is a 1911 vintage brick eight-unit with a rare mix for the neighborhood - four true two-bedrooms and four one-bedrooms across 6,400 square feet. 6 of 8 interiors have been updated over time with quartz counter tops, stainless steel appliances and dishwashers, hardwood floors and refinished baths, while original exposed brick and radiator heat keep the vintage character intact. The location does the heavy lifting: minutes from the CTA Blue Line at Logan Square and Belmont, the Milwaukee and Fullerton retail corridors, and the Kennedy. Current gross rents are over $188k annually - a 10.9 GRM and 6.09% cap rate in place, with additional upside through bringing rents to market and renovating the remaining 2 units. Water heater is newer, boiler was installed in 2015 and roof is ~15 yrs old.
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For more information about 2838 N Albany, Chicago, IL 60618 contact Corcoran Urban Real Estate.
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