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3000-3030 Marquette Rd Chicago, IL 60629

Sponsored
For Sale
$7,100,000

85-Unit Multifamily Investment Opportunity

Description

Added:
Dec 11, 2024
Days on Market:
406
This exceptional 85-unit apartment building, located at 3000-3030 W. Marquette Rd in Chicago, IL, presents a compelling investment opportunity. Built in 1927, this four-story, Class C building boasts a striking red/brown brick façade with ornate terra cotta detailing. Situated on a 16,875 sq ft lot, it features a double courtyard design and enjoys a prime location adjacent to the expansive Marquette Park (318+ acres). The property offers convenient access to public transportation (CTA bus routes #67, #52A, and #94), Midway International Airport (under 3 miles), and downtown Chicago (approximately 10 miles). The building comprises 74 one-bedroom units, 10 two-bedroom units, and 1 three-bedroom unit, all featuring updated kitchens and bathrooms, and real hardwood floors. Currently operating at 85% occupancy, the property generates a NOI of $554,138, with a pro-forma NOI of $660,161 and a pro-forma cap rate of 9.3%. The asking price is $7,100,000, representing a price per unit of $83,529.41. Two large water tanks and two newer boilers ensure efficient hot water and heating for residents. This institutional-grade investment offers significant potential for future growth and strong returns. The Cook County APN is 19241270280000.

Property Features for 3000-3030 Marquette Rd

General Information

Property type
Multifamily properties
Class
C

Building Details

Year Built
1927
Buildings
1
Stories
4
Units
85

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Listing Contact
David McLennan
David McLennan

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Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.6984458
Latitude
41.7718784

FAQs

What type of property is this?
Multifamily property - 85-Unit Multifamily Investment Opportunity
Where is this multifamily property located?
The property is located at 3000-3030 Marquette Rd Chicago, IL.
What is the asking price?
The asking price for this property is $7,100,000.
More about this property
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