PERFECT 1031 / INVESTOR OPPORTUNITY! Currently produces a 6.4% cap rate and potential for 8.5% at current list price. Classic East Ravenswood 4 Unit Greystone with vintage touches, steps from CTA/Metra, surrounded by multi-million singe family homes. Income producing property that has great potential to be a high residual property or mutli-unit condo resale for the right investor. The garden unit is in the process of a retro-fit renovation that's about 60% completed. All 4 units are separately metered and utilities are tenant responsibility. New owner has option to covert to single family, 2 duplexes or keep as an investment property and submit with the city for the garden unit, current license over 20 years old as 3 flat. Current 3 unit income due to garden unit, if you upgrade all 4 units, has potential for a 30%+ increase in income. With the proximity of public transit, dining, shopping and great schools potential AAA asset on a tree lined street with true Chicago character.
Property Map
Please use the print button to include maps when printing.
For more information about 4452 N Hermitage, Chicago, IL 60640 contact Corcoran Urban Real Estate.
Broker Reciprocity
Listing provided by Core Luxury Real Estate Inc.
All information provided is deemed reliable but is not guaranteed and should be independently verified.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Urban Real Estate are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.
