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$4,350,000   Price Analysis
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1616 N Western Ave
Chicago, IL 60647
15 bed 15 bath unknown SqFt ($0/SqFt)
8,250SqFt lot. Built 2003
Listed 2024-06-20, Taxes $18,679
Ⓧ USDA Ineligible
due to price & location

near Chicago

Introducing a prime investment opportunity in Bucktown

This newer 10-unit building is a testament to modern luxury and urban convenience. Each extra-wide condo-quality apartment boasts high ceilings, balconies, hardwood floors, granite countertops and 42-inch cbinets with stainless steel appliances, creating a sophisticated living experience. Oversized windows flood each unit with natural light, enhancing the roomy rooms and elegant interiors. The building includes eight storage units and nine attached garage spots, ensuring ample convenience for residents.

Currently, the property is fully occupied with long-term, high-quality tenants, offering stability and immediate rental income. There is significant potential to increase rental rates, supported by the upscale design and desirable location. Featuring eight upscale residential units and two commercial spaces, each with separate tax IDs, this property offers versatility and investment security. Situated nea r the Blue Line and Western Avenue CTA stop, residents enjoy easy transit access, while the vibrant neighborhood boasts trendy restaurants, fashionable boutiques, art galleries and music venues, enriching the local lifestyle and attracting a dynamic tenant base.


Presented by Yvonne Stachyra at
Wesley Realty Group.


Property MLS #12089455 from MRED

Bedrooms: 15

Yes

Cooling Features: Central Air
Number of Fireplaces: 8

Full Bathrooms: 15

Additional Parcels: Yes
Lot Size Acres: 0.1893939
Lot Size Dimensions: 75X110
Lot Size Square Feet: 8250

1

Association: No
Calculated Total Monthly Association Fees: 0

Number of Units: 8
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 3
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 1
Bedrooms in Unit-5: 2
Bedrooms in Unit-6: 3
Bedrooms in Unit-7: 3
Total Bathrooms in Unit-1: 2
Total Bathrooms in Unit-2: 3
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 2
Total Bathrooms in Unit-6: 3
Total Bathrooms in Unit-7: 3
Full Bathrooms in Unit-1: 2
Full Bathrooms in Unit-2: 3
Full Bathrooms in Unit-3: 1
Full Bathrooms in Unit-4: 2
Full Bathrooms in Unit-5: 3
Full Bathrooms in Unit-6: 4
Full Bathrooms in Unit-7: 3
Total Rooms in Unit-1: 5
Total Rooms in Unit-2: 6
Total Rooms in Unit-3: 4
Total Rooms in Unit-4: 4
Total Rooms in Unit-5: 5
Total Rooms in Unit-7: 5
Unit-1 Description: Unit 1, Units Total: 1
Unit-2 Description: Unit 2, Units Total: 1
Unit-3 Description: Unit 3, Units Total: 1
Unit-4 Description: Unit 4, Units Total: 1
Unit-5 Description: Unit 5, Units Total: 1
Unit-6 Description: Unit 6, Units Total: 1
Unit-7 Description: Unit 7, Units Total: 1

Tenant Pays: Air Conditioning, Heat

Annual Tax Amount: 48684.00
Source Listing Status: Active
County: Cook
Directions: NORTH AVE WEST TO WESTERN AVE N.TO 1616
Tax Year: 2022
Source Property Type: Multi-Family
Parcel Number: 13364320480000
Township: West Chicago
Zoning: MULTI
Property Subtype: Multi Family 5+
Source System Name: C2C

YearAssessments
Building + Land
Total
Tax
2021$87,817 + $2,552
$90,369
$18,679
2020$118,848 + $2,552
$121,400
$27,881
2019$118,848 + $2,552
$121,400
$25,148
2018$118,848 + $2,552
$121,400
$24,736
2017$105,459 + $2,552
$108,011
$24,025
2016$105,459 + $2,552
$108,011
$22,441
2015$105,459 + $2,552
$108,011
$20,573
2014$91,183 + $2,552
$93,735
$18,109
2013$60,819 + $2,552
$63,371
$12,038
2012$89,843 + $2,552
$92,395
$17,367
2011$52,406 + $2,552
$54,958
$9,402
2010$29,946 + $2,552
$32,498
$5,577
2009$29,946 + $2,552
$32,498
$5,229
2007$44,880 + $3,879
$48,759
$7,223

Listed 2024-06-20
$4,350,000
MRED
Sold 2021-09-30
$3,300,000
Public Record
Listing removed 2021-08-09
$3,395,000
MRED
Listed 2021-06-14
$3,395,000
MRED
Sold 2014-10-15
$2,526,000
Public Record
Sold 2002-09-11
$575,000
Public Record
Sold 2002-08-05
$300,000
Public Record
Sold 1985-10-24
$75,000
Public Record

Net Operating Income: 265914

Electric: Circuit Breakers, Separate Meters

Year Built: 2003
Construction Materials: Brick
Property Age: 21
Levels or Stories: 4

Moos Elementary School is a public elementary and middle school located approximately 0.5 miles away.
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Clemente Community Academy High School is a public high school located approximately 0.6 miles away.
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Josephinum Academy is a private high school located approximately 0.2 miles away.
directions icon Map directions

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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.