4948 Christiana Ave Chicago, IL 60625

Property Details for 4948 Christiana Ave

Year built

1924

Property size

7,100 SF

Property type

Apartment buildings

Description

This exceptional eight-unit apartment building, located at 4948-4950 N Christiana Avenue in Chicago's desirable Albany Park neighborhood, presents a compelling investment opportunity. Built in 1924 and boasting 7,100 square feet, the three-story building offers a mix of six two-bedroom/one-bathroom units and two three-bedroom/one-bathroom units. Recent renovations include updated kitchens featuring granite countertops, modernized bathrooms, central heating and air conditioning, and upgraded electrical systems. Further enhancing the property's appeal are a new roof and a recently updated porch. The building's location provides convenient access to public transportation, including the CTA Brown Line and various bus routes, ensuring easy connectivity to downtown Chicago and other areas. Its proximity to Northeastern Illinois University and North Park University adds to its desirability. Albany Park's vibrant atmosphere, affordability, and ongoing revitalization make it an attractive area for families, students, and young professionals. The property currently features below-market rents with month-to-month leases in place, presenting a significant opportunity for increased profitability. The large unit sizes and proximity to the CTA Kimball Brown Line stop and North Park University further enhance its investment potential. This property offers a strong combination of updated amenities, desirable location, and significant upside potential, making it an ideal addition to any investment portfolio. The asking price is $1,550,000, representing a price per unit of $193,750 and a price per square foot of $218.31. The property's current cap rate is 6.01%.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.7126

Latitude

41.9717