49
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$2,995,000
Est. payment /mo
Price Dropped by $4K
919-927 S Loomis Street Chicago, IL 60607
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UPDATED:
11/26/2024 06:06 AM
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12212892
Year Built 1889
Annual Tax Amount $32,526
Tax Year 2023
Lot Dimensions 50X150
Property Description
919-927 S Loomis St, 15-unit Trophy Asset located in one of Chicago's most historic neighborhoods, Little Italy. 9.94 GRM / 7.12 CAP. Value-add opportunity with below average rents for 10 residential units comprised of (8) 2 bed/1 bath and (2) 3 bed/1 bath. Coin laundry in basement. Additionally, 5 ground level retail with high 12 ft ceilings, central a/c, duplex down storage rooms and bathrooms. Roof tear off, new sewers, and new deck over the past decade. Short walk to the Pink and Blue Line trains and many boutiques, restaurants and nightlife on Taylor Street. The location is attractive to tenants because of the close proximity to Chicago's trendiest areas, walking distance to UIC with over 30,000 students enrolled, Illinois Medical District and Pilsen neighborhoods. This building represents a unique opportunity to acquire solid real estate in a prime location with a good unit mix in an area that has constant rental demand and very few transactions. Offering Memorandum and Floor Plans under "Additional Documents" and check out the exclusive Drone video. Successful 2024 Tax Appeal from 256,900 proposed assessed value to revised 228,300 (18,000 savings).
Location
State IL
County Cook
Interior
Fireplace N
Exterior
View Y/N true
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Giancarlo Iannotta • MO2 Brokerage LLC
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