Bucktown Updated Multifamily Property

2335 N Oakley, Chicago, IL 60647

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For Sale

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Updated Bucktown multifamily property with long-term tenants and newer features.

Type:Multifamily

Property size:

5,000 SF

Price / SF:

$259/SF

HighLights

Bucktown location, steps to Holstein Park and walkable to Blue Line, restaurants, bars, and coffee shops
Updated units with central heat/AC and in‑unit laundry
Newer 3‑car garage
Long‑term tenants with below‑market rents offering significant value‑add potential
Forecasted market gross rents of $109,200
Newer windows, roof, and updated plumbing

We can help!

Listing Contact

Art Collazo

For Sale

Contact for pricing

Updated Bucktown multifamily property with long-term tenants and newer features.

Type:Multifamily

Property size:

5,000 SF

Price / SF:

$259/SF

Added:: Jul 2, 2020
Days on Market:: 2172
Last Refresh:: May 19 at 9:33 pm

Property Features for 2335 N Oakley

General Information

Standard status: Active
Size: 5,000 SF
Property subtype: Multifamily

Building Details

Year Built: 1908

We can help!

Listing Contact

Art Collazo

Listing agent Art Collazo License #IL 475131028

Listing office Jameson Commercial Real Estate

Listing date Jul 2, 2020

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Jameson Commercial Real Estate

HighLights

Bucktown location, steps to Holstein Park and walkable to Blue Line, restaurants, bars, and coffee shops
Updated units with central heat/AC and in‑unit laundry
Newer 3‑car garage
Long‑term tenants with below‑market rents offering significant value‑add potential
Forecasted market gross rents of $109,200
Newer windows, roof, and updated plumbing

Overview

This Bucktown multifamily property is located on a wide lot and features updated units. The building includes central heat and air conditioning, in-unit laundry, newer windows and roof, and updated plumbing. A newer three-car garage is included. The property is occupied by long-term tenants with rents below market value. Forecasted market gross rents are $109,200. The property is located steps from Holstein Park and within walking distance of the Blue Line, restaurants, bars, and coffee shops. The property contains four units.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$126.0k	$25.20
− Vacancy	−$6.9k	−$1.39
EGI	$119.1k	$23.81
− OpEx	−$35.7k	−$7.14
NOI	$83.3k	$16.67

5,000 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,349 @ 7.0% cap · market cap 6.44%

Second Best

Apartment 5plus

$1.09M

$958.1K – $1.28M (±1% cap)

NOI $76,646 @ 7.0% cap · market cap 5.92%

Theoretical Best

Office A

$2.36M

$2.06M – $2.75M (±1% cap)

NOI $165,024 @ 7.0% cap · market cap 12.74%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.6848908
Latitude: 41.9245097

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For sale
Quadplexes
IL
Chicago
60647
2335 N Oakley

What type of property is this?

Quadplex - Updated Bucktown multifamily property with long-term tenants and newer features.

Where is this quadplex located?

The property is located at 2335 N Oakley Chicago, IL.

What is the asking price?

The asking price for this property is $1,295,000.

What are key features of this property?

This property features: Bucktown location, steps to Holstein Park and walkable to Blue Line, restaurants, bars, and coffee shops; Updated units with central heat/AC and in‑unit laundry; Newer 3‑car garage