5636 - 48 W. Division Street
Bank-Owned Deal Just Dropped: $1.69M 33-Unit Value-Add; motivated seller open to creative financing
Marketing description
This 33-unit mixed-use property, a bank-owned asset in Chicago’s vibrant North Austin neighborhood, offers a compelling investment opportunity within a historic community. Constructed in 1925, the ornate terracotta building features 7 commercial storefronts, 18 one-bedroom/one-bathroom units, 6 two-bedroom/one-bathroom units, and 2 studios, providing a diverse revenue stream.
Investment highlights
Construction: built in 1925 with a well-preserved terracotta exterior
Condition: solid structure with a well-maintained roof and mechanical systems
Additional Features: interior courtyard with potential for enhancements
Value-Add Opportunities: potential for on-site parking addition, a laundry room adjacent to the mechanical room, and upgrades to commercial spaces, including the vacant corner storefront
Investment Potential: significant value-add opportunity through targeted upgrades and effective management
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