Current Use by Public Records
- Apartment buildings
Property Details for 3653 Barry Ave
- Year built
- 2022
- Property type
- Apartment buildings
Description
This exceptional 8-unit Class A apartment building, constructed in 2022, presents a compelling value-add investment opportunity in Chicago's desirable Avondale neighborhood. Boasting 100% occupancy and a current NOI of $262,488, this property offers a 6.10% cap rate with a pro-forma cap rate of 7.34%. The building encompasses 15,754 square feet on a 2,607 square foot lot and features a four-story design with elevator access. Each of the eight units includes three bedrooms and two bathrooms, showcasing high-end finishes, designer kitchens, spacious bedrooms, custom closets, and private balconies. Residents enjoy dedicated parking in a detached garage. The building's prime location near Logan Square provides convenient access to a vibrant array of dining, entertainment, and shopping options. The property is zoned B2-2 and has an asking price of $4,299,999, translating to $537,499.88 per unit and $272.95 per square foot. The projected NOI after improvements is $315,500. This turnkey investment offers a stable return and significant upside potential in a highly sought-after Chicago location. The Cook County APN is 13-26-111-014-0000. The property's address is 3653 W. Barry Ave, Chicago, IL 60618.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.7194
- Latitude
- 41.9372
