1658 S. Millard

Chicago, IL 60623

N/A

Sale Price

Property Details

Price SummaryN/A
Number Of Units3
Close Date10/2023

Property Description

Kiser Group is pleased to exclusively offer for purchase the sale of 1658 S. Millard, a three (3) unit walk-up located in Chicago’s historic Lawndale neighborhood. The property is located just one (1) block from Chicago's Pink Line "El" train station at Central Park, as well as, one (1) block away from an abundance of public transit and retail options down Ogden Ave.

1658 S. Millard is comprised of three (3) incredibly spacious 3bd/2ba units boasting roughly 1,300 square feet of living
space. All of the units have been gut-renovated and equipped with updated kitchens and baths. Recent capital improvements to the building consist of, but not limited to: a new 400 amp electric service with in unit breaker boxes, in-unit and separate furnaces and hot water tanks, new windows, 100% copper plumbing, and a new roof (2018). Additionally, there is in-unit laundry featuring both a washing and drying machine. Furthermore, there are (3) parking spots in the rear, which provide tenants an additional amenity.

1658 S. Millard provides an investor with a unique opportunity to acquire a stabilized and strong cash flowing asset in Chicago’s desirable pocket of Lawndale. From day one, a new owner will capitalize on an incredibly strong, subsidized tenant base, and will realize an in place cap rate of 10.25% and a cash-on-cash return of over 21%.

Location Description

3 Units :: Lawndale

Highlights

  • Fully-Renovated
  • New Roof (2018)
  • New In-Unit Furnaces & Water Heaters
  • 100% Copper Plumbing
  • New Stainless Steel Appliances
  • In-Unit Laundry w/ Washer & Dryer

Map

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0.5 Miles 1 Miles 1.5 Miles
Total households 4,359 15,710 33,311
Total population 13,578 52,755 117,192
Population white 7.5% 20.5% 25.0%
Population black 87.4% 59.1% 49.4%
Population hispanic 9.3% 38.3% 47.9%
Population asian 0.5% 0.1% 0.1%
Population pacific islander 0.0% 0.0% 0.0%
Population american indian 0.0% 0.1% 0.1%
Population other 4.0% 19.5% 24.7%
Persons per household 3.1 3.4 3.5
Average household income $37,475 $39,264 $39,740
Average house value $240,429 $235,287 $228,885
Average age 28.9 28.4 27.7
Average age male 23.6 26.1 26
Average age female 36.1 31.3 29.9
2020 American Community Survey (ACS)