1056 N Hamlin Ave Chicago, IL 60651
8 unit walk-up building in one of Chicago's most rapidly growing neighborhoods, Humboldt Park
Property size:
7,600 SFLot size:
0.17 Acres- Added:
- Jan 17, 2025
- Days on Market:
- 447
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 1056 N Hamlin Ave
General Information
- Standard status
- Active
- Property type
- Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
- Size
- 7,600 SF
- Elevators
- N/A
- Lot size
- 0.17 Acres
Building Details
- Year Built
- 1922
- Buildings
- 1
- Stories
- 2
- Units
- 8
Listing agent Noah (773) 293-5033
Listing office (773) 293-5033
Listing date Jan 17, 2025
Overview
Humboldt Park Eight-Unit Investment Property
This eight-unit walk-up building is located in Chicago's Humboldt Park neighborhood. Situated on a tree-lined street, the property is one block from the Division and Hamlin bus stop and approximately five blocks from North Avenue, providing access to retail options and public transportation. The 7,600 square foot building sits on a 0.17-acre lot. The building features eight two-bedroom, one-bathroom units, each with individual furnaces and water heaters. Capital improvements include updated copper plumbing, newer windows, complete electrical rewiring, renovated kitchens and bathrooms, and preserved original hardwood flooring. The property is fully occupied and stabilized, offering an immediate 8.8% cap rate. With improved leasing and management strategies, raising rents to market levels already achieved within the building, a new owner could realize a 10.6% cap rate and a 20% cash-on-cash return. This property presents an investment opportunity in a Chicago neighborhood.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.721722
- Latitude
- 41.900735
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 8 unit walk-up building in one of Chicago's most rapidly growing neighborhoods, Humboldt Park
Where is this multifamily property located?
The property is located at 1056 N Hamlin Ave Chicago, IL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Fully Occupied & Stabilized Asset; Individual Furnaces; Individual Water Heaters
