Current Use by Public Records
- Apartment buildings
Property Details for 7400 Artesian Ave
- Property type
- Apartment buildings
Description
This well-maintained ten-unit apartment building, located at 7400 S Artesian Ave in Chicago's Marquette Park neighborhood (zip code 60629), offers a compelling investment opportunity. The property boasts 7,400 square feet and features a mix of six one-bedroom/one-bathroom and four two-bedroom/one-bathroom units. Recent capital expenditures include a new boiler (installed in 2022) and updated windows, enhancing both efficiency and curb appeal. The building's exterior, including masonry and porches, is in excellent condition. Twelve on-site parking spaces provide ample convenience for residents. The property benefits from its location in a quiet residential area near Western Avenue's retail amenities and convenient public transportation via nearby bus stations. The current in-place cap rate stands at 8.41%, with significant potential for rental upside through market adjustments, offering a strong return on investment. Interior features include in-unit circuit breakers. This property presents a rare chance to acquire a well-maintained building with substantial growth potential in a desirable Chicago neighborhood. The building's strong fundamentals and potential for increased profitability make it an attractive investment.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6845
- Latitude
- 41.7591
