5324 N Kimball

Chicago, IL 60625

The subject property is a 13-unit brick, walk-up building located near the intersection of Kimball Ave. and Foster Ave. in the Albany Park neighborhood of Chicago. The current unit mix consists of Ten (10) - 1 Bed/1 Bath and Three (3) - 2 Bed/1 Bath apartments with separate formal dining rooms. Recently, three of the units were extensively renovated with updates that included new kitchens (cabinetry, countertops, tile work, appliances), updated bathrooms (vanity, sink, faucet, toilet, tile work, and finishes), hardwood flooring throughout and trim work. Additionally, all the windows were replaced, and the rear porches were replaced in 2015. This is an excellent opportunity for an investor to acquire a multifamily property with significant value-add potential. The current rents are averaging at least 20% below market, which offers the opportunity to raise the current rents to market and operate the property as-is. A buyer may also choose to convert the dining rooms into second bedrooms, which would enhance the unit layouts for a significant yield increase.