4703 N Winchester Avenue,Chicago, IL 60640
Chicago, IL 60640
Description
Tucked into a tree-lined stretch of Ravenswood, 4703 North Winchester Avenue is a handsome, turn-of-the-century brick building with a classic covered front porch and the vintage character that consistently commands a premium from renters. Every unit is a true one-bedroom, one-bathroom layout. 6 of 8 units have been updated while 2 of the remaining units have more vintage finishes, making this a great opportunity to cash flow in current condition, but still taking advantage of additional upside in rents. The location does the heavy lifting: a short walk to the CTA Brown Line, surrounded by Lincoln Square's shops and restaurants, minutes from Winnemac and Welles Parks, in a dense pocket of the city where quality rental housing is chronically undersupplied. Coin-operated laundry and tenant storage in the basement, tenant-paid electric, and a durable brick exterior round out a stabilized, cash-flowing asset in an irreplaceable North Side location - with a straightforward path to grow income simply by staying the course and light value-add strategy. Current gross rents are over $150k annually - a 10.19 GRM & 6.92% cap rate on current numbers!
Details
| MLS # | 12729281 |
|---|---|
| Listing Type | For Sale |
| Style | Multi Family 5+ |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1900 |
| Days On Site | 10 |
| Listing Provided By | Horvath & Tremblay IL, LLC | Micah Weis |
Features
| Basement | Y |
|---|---|
| Story(s) | 2 |
| Units | 8 |
| Acreage | 0.08 |
Interior
| Cooling | Window Unit(s) |
|---|
Exterior
| Foundation Details | Concrete Perimeter |
|---|---|
| Construction Materials | Brick |
Utilities
| Electric | Service - 201 to 600 Amps |
|---|
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 18724 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60640 |
| Area | CHI Lincoln Square |
| Listing VS Median (in 60640) | |
Price: $1,530,000 low | high Med: $198,350 On site: 10 low | high Med: 37 | |
Market Activity 60640
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60640 |
| Area | CHI Lincoln Square |
| Listing VS Median (in 60640) | |
Price: $1,530,000 low | high Med: $198,350 On site: 10 low | high Med: 37 | |
