We are pleased to present 3110 W Lyndale. Originally built in 1887, this building has an excellent unit mix consisting of two 2-bed apartments and two 3-bed apartments. The asset is currently 100% occupied, and the average rent is $1911. The asset has benefited from many recent capital improvements. Infrastructure improvements include updated electrical service, individual HVAC, plumbing, roof and windows. Unit amenities include updated kitchens, baths, stainless steel appliance package including dishwasher, in-unit washers, dryers, white quartz counters, white shaker cabinets, newer flooring and rear decks. The (2) two story second floor units are approximately, 1,200 square feet and rented for $2,185 and $2,110 respectively. The first floor apartments are approximately 800 square feet and rented for $1,689 and $1,660 respectively. A new investor could continue this already proven concept and add value by duplexing the first floor units down and increase rents by an estimated $525 per unit to $2,185. Thereby increasing the net operating income by $12,600. Moreover, there may be an opportunity to force appreciation through the addition of garden apartments as the property is located in the City of Chicago's newly designated Accessory Dwelling Unit (ADU) pilot zone. In Logan Square, 3110 W Lyndale is walking distance to restaurants, shopping, nightlife, public transportation and Palmer Square Park. With a location just a short drive to the Kennedy Expressway, makes this a community ideal for commuters not just for the city, but the greater Chicagoland area. The palmer Square location in Logan Square doesn't get much better than this: A 5 -minute walk will get you to The Square/Logan Square Park and Blue Line stop. Lyndale Avenue is a very quiet residential one - way street with ample parking, providing easy access to all the dining and retail of Milwaukee Avenue. This is a rapidly appreciating neighborhood. This opportunity gives an investor the opportunity to acquire a well located asset, achieving risk adjusted returns from day one and add value, thereby increasing cashflow and forcing appreciation.
