55 E Cedar

Chicago, IL 60611

Great Investment opportunity in the Heart of the Gold Coast! This renovated brick 4 unit vintage building sits on an extra wide 27" lot & has all condo quality units with 10-11 ft ceilings, all hardwood floors, updated kitchens & baths, Venetian plaster moldings, large room sizes, central air, newer dual pane windows, keyless entry+ Nest thermostats. This GEM is the investment you've been waiting for, with added potential to convert into a grand single family home! All 4 units have been renovated with dishwashers & microwaves, plus include: 1 bed- 1 bath garden unit, two 2 bed -1 bath units on the first & second floors, and top floor (potential owner's unit) with 2 beds - 2 baths + a private deck with city views. Other highlights: 1 covered parking space, shared laundry & a workout room in the basement & outdoor decks for the tenants. All units are leased. Multiple possibilities for this property include:1) Continue cash flow as a long-term investment. 2).Turn back into a hotel / Airbnb. 3) Owner occupy & rent out additional units 4) Convert into a single-family home. 5) Convert into duplex 6) Purchase property at 57 E Cedar and own a double lot. Fantastic Gold Coast location just steps from Lake Shore Drive, Oak Street Beach, Michigan Avenue, One Mag Mile, Rush Street restaurants, shops and nightlife plus CTA Division Red line stop. More photos coming...