This 22-unit apartment building is located at 347 South Central Boulevard on the west side of Chicago in the Austin neighborhood.The property consists of (1) one bedroom, (14) two bedroom and (7) three bedroom units. The apartment building is located down the street from Oscar DePriest Elementary School, which serves kids in kindergarten through eighth grade. It sits directly across the street from Columbus Park which is listed on the National Register of Historic Places and is designated a National Historic Landmark.The building underwent a $2,755,000 extensive rehab including the following exterior improvements: new modified bitumen roof, vinyl double hung windows and full tuck-pointing on the outside. On the inside, the building received new electrical wiring along with 800 amps, new copper plumbing, and new, separate central HVAC systems and hot water tanks in each units. The apartments were reconfigured from the original 32 units down to 22 larger units. Hardwood flooring, new slate tile bathrooms, and designer lighting was installed throughout all units. In the kitchens, all units received maple cabinets, manufactured countertops, garbage disposals and a complete stainless steel appliance package (stove, refrigerator, dishwasher, & microwave). Each unit is cable ready and there is 24-hour surveillance that can be viewed from your laptop or iphone no matter where you are in the world.This investment presents a great opportunity for an investor to purchase a well maintained asset in a vibrant Chicago neighborhood with strong cash flow.The Sale is Subject to Approval from the City of Chicago.
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