5865 N Magnolia

Chicago, IL 60660

5865 N. Magnolia Ave. is located in the desirable Magnolia Glen neighborhood within Chicago's Edgewater community. The building also originally constructed as a three-flat but was subsequently converted to include six units during the 1940s. The building is comprised of four (4) one bedroom/one bath units, one (1) three bedroom/one bath garden unit, and one (1) three bedroom/1.5 bath first floor unit. Cook county currently has 5865 N. Magnolia Ave. zoned as a three-unit building. Each apartment features hardwood floors throughout, individual furnaces, and updated kitchens with white appliances and wood cabinetry. Select units feature decorative fireplaces and formal dining rooms. The property has been meticulously maintained and received significant capital improvements over the past several years. Current ownership has invested approximately $100,000 into the building, including extensive renovation of the garden apartment. Additional income is generated from coin-operated laundry in each basement as well as a total of three (3) garage parking spaces in the rear. Presently, three units are fully furnished, short-term rentals. A new owner has the opportunity to leverage this strategy or convert the units back to annual leases for ease of management.