2752 Seminary Ave Chicago, IL 60614-8119

Property Details for 2752 Seminary Ave

Year built

1886

Construction

FRAME

Lot size

0.07 lot acres

Property size

2,473 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

14-29-400-023

APU

1429400023

Description

This exceptional 4-unit apartment building in Chicago's desirable Lincoln Park neighborhood presents a compelling value-add opportunity. The property boasts 4,600 square feet of net rentable space across two buildings, including a coach house, situated on a 3,000 square foot lot. The main building features three residential units: two 3-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit. The coach house offers a 3-bedroom/1.1-bathroom unit. A complete renovation in 2021 included extensive interior and exterior work, a gut rehab of two units, and the addition of in-unit washers/dryers. All work was properly permitted and inspected. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $87,128, representing a 6.74% cap rate. The building's prime location offers easy access to public transportation, including the Diversey Brown Line CTA station and the #76 Diversey bus route. Surrounded by a vibrant neighborhood with award-winning restaurants, lively nightlife, and proximity to DePaul University and Lincoln Park, this property benefits from superior demographics, with average household incomes exceeding $137,923 and median home values over $480,000 within a 2-mile radius. The asking price is $1,293,000, or $323,250 per unit, and $281.09 per square foot. This is a rare opportunity to acquire a fully leased, high-performing multifamily asset in one of Chicago's most sought-after neighborhoods. The property is zoned RT-4.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6562

Latitude

41.9321

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments