243 N Mason Ave, Chicago, IL 60644

Jack Petrando

Aaron Sklar

IL 475161507

Noah Birk

IL 475.125864

Listed by Kiser Group

$1,650,000

42 days on market

Updated 42 days ago

243 N. Mason

Details

Property Type

Multifamily

Sub Type

Apartment Building

Square Footage

12,700

Multifamily

Marketing description

Kiser Group is pleased to exclusively offer for purchase the sale of 243 N. Mason, a thirteen (13) unit walkup located in Chicago’s historic Austin neighborhood. The property sits on a quiet, tree lined street just one (1) block from Chicago's Green Line "El" train station at Austin. Additionally, the property is located three (3) blocks away from Madison St, which features an abundance of public transit and retail options.

243 N. Mason is comprised of six (6) 3bd/1ba units, six (6) 2bd/1ba units, and one (1) 1bd/1ba unit, all of which are incredibly spacious. All of the units, have been renovated and equipped with updated kitchens and baths. Furthermore, the building boasts newer windows, new 800 amp electrical service, individual & in-unit furnaces, individual water heaters, and updated copper plumbing.

243 N. Mason provides an investor with a unique opportunity to acquire a stabilized and strong cash flowing asset in Chicago’s desirable pocket of Austin. From day one, a new owner will capitalize on an incredibly strong and long term tenant base, and will realize an in place cap rate of 8.71% and a cash return of 13.27%. Through improved leasing, management, and raising rents to levels already being achieved in the building, an investor has the opportunity achieve a cap rate of 9.33% and a cash return of 15.73%.