16 N. Lorel Ave.

16 North Lorel Avenue, Chicago, IL

$2,200,000

Price

7.35%

Cap Rate

$161,706

NOI

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Street
Map
Overview
Cap Rate
7.35%
NOI
$161,706
Building Size
17,525 sqft
Lot Area
0.24 acres
Units
23
Year Built
1927
Floors
3
Description

The following executive summary provides a comprehensive overview of a prime multifamily property located at 16 N. Lorel Ave, Chicago, IL 60644, situated within the vibrant Austin community. This property presents a unique investment opportunity in the thriving Chicago real estate market. 

The 23-unit multifamily property at 16 N. Lorel Ave, strategically located in the heart of the Austin community, offers a mix of well-designed residential units catering to diverse housing needs. The property is conveniently positioned to provide easy access to essential amenities, transportation, and local attractions. 




Unit Diversity: The property features a thoughtful mix of unit sizes and layouts, accommodating various living arrangements, from studio apartments to multi-bedroom units. This versatility attracts a wide tenant demographic. 

Strategic Location: Situated in the Austin community, the property benefits from its proximity to schools, parks, shopping centers, healthcare facilities, and public transportation, ensuring convenience and attractiveness for potential tenants. 

Investment Potential: The property's location within a rapidly evolving neighborhood presents significant investment potential. Austin has been experiencing revitalization efforts, making it an appealing destination for renters seeking affordability and urban conveniences. 

Strong Rental Demand: The Chicago rental market, coupled with the property's accessible location, ensures a steady demand for well-maintained, affordable housing options, contributing to consistent occupancy rates. 

Location
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