Listed by Kiser group
$2,800,000
1625 W. Greenleaf
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 12,000
Units 14
Year Built 1929
Multifamily | 14 Units
Marketing description
Kiser Group has been exclusively engaged to market for sale 1625 W. Greenleaf, a 14-unit, walk-up style apartment building located in Chicago’s Rogers Park neighborhood. This 1920s constructed asset is well-situated as it sits just 0.2 Miles from the Rogers Park UP-N Station and 0.5 miles from the Morse CTA Red Line.
1625 W. Greenleaf features a unit mix comprised of one (1) studio, five (5) 1-bed / 1-bath units, five (5) 2-bed / 1 bath apartments, and three (3) 3-bedroom units. The property also includes common area laundry facilities. Interiors vary in finish level, including hardwood flooring, standard or stainless-steel appliances, granite or laminate countertops, and oversized floor plans. As current rents are 15%+ below market, new ownership can add value with light turnover work and by operating more aggressively to bring rents to market.
Located in the desirable Rogers Park neighborhood, 0.2 Miles from the Rogers Park UP-N Station and 0.5 miles from the Morse CTA Red Line, this asset offers value-add potential in a northside area that will always be sought after.
Rogers Park is located 10 miles from downtown and is the furthest north side neighborhood in Chicago. With Lake Michigan to its east, Rogers Park spans from Devon Avenue to the south, Ridge Avenue to the west and Howard Street to the north. The area is home to Loyola University Chicago, multiple CTA Red Line stops, and is one of the most diverse neighborhoods in the city.
Loyola University Chicago is an economic driver for Rogers Park with 11,919 undergraduate students. For the past three years, Loyola’s incoming first-year class has continued to break the record for the school’s largest class. The large student body population is driving restaurant and local amenity developments. Multifamily development has increased in this neighborhood, including luxury apartments like The Morgan, 415 Premier Apartments, and Albion at Loyola Station.
Students have ample assess to public transportation and recreation. The CTA Red Line stops include Howard, Jarvis, Morse, and Loyola. In 2013, the Loyola stop underwent a $17 million renovation that included a plaza. Bus Routes include the #22 (Clark) and #147 (Outer Drive Express). With over one mile of publicly accessible beaches, residents enjoy the natural amenity and beauty of Lake Michigan.
Investment highlights
- One, two, and three-bedroom apartments
- Upgraded building systems
- 0.2 Miles to Rogers Park UP-N Station
- 0.5 Miles to Morse CTA Red Line
- Additional upside in current rents
Listing Contacts
Listed by Kiser group
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