Description
One of a kind Lincoln Park 3-unit Greystone walk-up building, with an additional non-conforming garden unit, located near the intersection of Racine and Belden in the Lincoln Park neighborhood of Chicago. The building is situated on an extra-wide 26' lot and includes 5,107SF (not including the basement) of livable space. All conforming units run the entire span of the building, and have access to a backyard, a 2-car garage and a roof-top deck. The current unit mix consists of two (2) 3 Bed/1 Bath and two (2) 2 Bed/1Bath apartments. The 1st and 2nd floor apartments are the 3 bedroom units and feature spacious living rooms, separate dining rooms, large bay windows and high ceilings. One of the two units is semi-renovated, with updated appliances and kitchen cabinets. Units feature hardwood flooring throughout and original trim work. The 3rd-floor apartment is a loft-style 2BR/1BTH with multiple skylights and a spacious layout and private entrance. The non-conforming garden unit can easily be duplexed with the 1st floor, or renovated in order to increase monthly cash flow. This property represents an incredible opportunity for any investor, developer or future home-owner to acquire a rarely available multifamily property with significant value-add potential in an outstanding location. Depending on a new operators approach you could renovate all 4 units and cash-flow immediately or alternatively could develop the property into a gorgeous single-family home. The neighborhood offers the best of Chicago living as the building is located directly across the street from both Oscar Mayer School and Trebes Park (a Chicago Park district green-space with 1.85 acres of sports fields and playgrounds). The Fullerton "El" station (Red, Purple and Brown lines) is just a 4-block walk, providing easy access to both the Loop or Northside. Two blocks away is Lake Shore Sports and Fitness. Nearby Southport Street and Armitage Avenue offer great shopping/restaurants/bars and cafes. Located directly in the DePaul college district.
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