1658 S. Millard
Chicago, IL 60623
N/A
Sale Price
Property Details
| Price Summary | N/A |
| Number Of Units | 3 |
| Close Date | 10/2023 |
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
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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 |