1723 W Foster Avenue, Chicago, Illinois 60640
- $2,400,000
- List Price
- $2,400,000
- MLS#
- 12761599
- Status
- NEW
- Type
- Commercial
- Subtype
- Commercial Sale
- County
- Cook
- City
- Chicago
- Neighborhood
- Ravenswood
- Days On Market
- Unknown
Property Description
Rare Andersonville/Lincoln Square Jumbo 6-Unit Investment Opportunity! Exceptionally spacious, condo-quality units, extensive improvements, and an outstanding location make this a truly special multi-family property. The building features four oversized 2-bedroom, 1-bathroom units plus two expansive 3-bedroom, 2-bathroom duplexes. All six units are fully rented, providing immediate income, while current rents offer an attractive opportunity for future upside. With many major improvements already completed, this is a turn-key investment ready for its next owner. These enormous units are filled with character and thoughtful details, including gorgeous crown molding, 6-inch baseboards, hardwood floors throughout, decorative fireplaces in the living rooms, and large separate dining rooms off the kitchens. Updated kitchens feature granite countertops, stainless steel appliances, and built-in hutches. All units feature central HVAC. The two duplex units offer in-unit side-by-side washers and dryers and large lower-level family rooms, providing exceptional additional living space. The four simplex units are served by convenient coin-operated laundry. The property has benefited from numerous improvements over the years, including a major update approximately 20 years ago and many additional updates within the past several years. Major capital improvements include a new tear-off roof approximately 2 years ago, rebuilt parapet walls, 400-amp electrical service, copper plumbing throughout, a 160-gallon high-efficiency water heater installed in 2014, and furnaces replaced approximately 5 years ago. The property also includes a 4-car brick garage with rebuilt trusses and a newer rubber roof. Ideally located between Andersonville and Ravenswood/Lincoln Square, the property is within easy walking distance of the vibrant Foster/Clark corridor, offering an outstanding selection of restaurants, cafes, shops, retail, and entertainment. Convenient access to public transportation and Lake Michigan further enhances this highly desirable location. A rare opportunity to acquire a jumbo 6-unit building with enormous, character-filled units, fully occupied apartments, below-market rents with potential for future growth, significant capital improvements, and a 4-car garage. A truly turn-key investment in one of Chicago's most sought-after neighborhoods.
Additional Information
- Tax Year
- 2025
- Year Built
- 1923
- Lot Dimensions
- 50x130
- Air Conditioning
- Central Individual
Mortgage Calculator
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