2110 Washington Blvd Chicago, IL 60612

Property Details for 2110 Washington Blvd

Year built

2022

Property size

6,000 SF

Property type

Commercial real estate

Description

This stunning new construction (2022, renovated 2023) four-unit apartment building in Chicago's West Loop boasts 6,000 square feet of net rentable space, offering a compelling investment opportunity with a 9.53% cap rate and a current NOI of $190,506. Located at 2110 W Washington Blvd (60612), this Class A property is just 1.5 blocks from the Damen/Lake Green Line station and within walking distance of Fulton Market, the United Center, and the future Blackhawks hotel. Each of the four units features expansive balconies, high-end finishes including Merchandise Mart-crafted cabinetry, quartz countertops, Viking appliances, and 5-inch wide oak flooring. Two meticulously designed bathrooms are included in each unit, along with high-efficiency HVAC systems and in-unit washer/dryer. Ample storage and gated parking for all four units are also provided. The first floor is ADA compliant, and the penthouse unit includes an exclusive deck, with plans and permits in place for additional rooftop decks on the remaining units. The building sits on a 3,720 square foot lot and is zoned RM 5.5. The asking price is $1,998,800 ($499,700 per unit, $333.13 per square foot). Tenants pay all utilities except water and common area electricity. This property presents an exceptional opportunity for a 1031 exchange or owner-occupant, with nothing to do but collect rent. Currently at 25% occupancy.