3320 S Carpenter St
$1,290,000
3320 S Carpenter St, Chicago, IL 60608
4,008 sqft
Building Size
0.0689 acres
Lot Area
Details:
Highlights:
- Six legal units plus two non-conforming loft-style studio units
- Potential ADU conversion opportunities, subject to municipal approval
- Strong in-place annual rental income of $196,440
- Significant value-add potential
- Solid brick construction
- Full basement with shared laundry and tenant storage
- Desirable Bridgeport location with convenient access to transportation and neighborhood amenities
- Located on a tree-lined dead-end street for limited traffic
Description:
3320 S. Carpenter Street presents an attractive value-add investment opportunity in Chicago’s Bridgeport neighborhood. The brick building contains six legal units consisting of five two-bedroom/one-bath apartments and one studio, plus two large non-conforming loft-style studio units. The non-conforming units may offer the potential to be duplexed into existing apartments or converted to legal dwelling units under Chicago’s expanded ADU ordinance, subject to zoning and municipal approval. A rear brick structure provides additional flexibility and could potentially be converted into a garage, repurposed as an additional ADU, or demolished to create a larger parking pad. The property also includes a full basement with shared laundry and tenant storage. With current annual rental income of $196,440, strong cash flow in place and several opportunities to increase the property’s legal unit count and long-term value, 3320 S. Carpenter offers investors a compelling combination of immediate income and future upside.
Located in Chicago’s desirable Bridgeport neighborhood, 3320 S. Carpenter Street offers residents a walkable residential setting near the shops, restaurants and neighborhood amenities found along 31st Street, 35th Street, Morgan Street and Halsted Street. The property is convenient to Palmisano Park, McGuane Park, Armour Square, the Chicago White Sox ballpark and the growing dining and arts scene throughout Bridgeport. Nearby CTA bus service provides connections to the Orange and Red Lines, while access to I-90/94 and I-55 makes travel to downtown Chicago, the Illinois Medical District, UIC and surrounding neighborhoods convenient. With a Walk Score of 84, the location combines the character of an established Chicago neighborhood with strong access to employment centers, recreation and public transportation.
Documents:
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| 3320_S_Carpenter_St___OM.pdf |
Location
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