Skip To Content

6331 N Wayne Avenue

Chicago, IL 60660
  • $2,900,000
  • STATUS: Active Under Contract
  • ON SITE: 113 Days
  • MLS #: 11487324
Under Contract
UPDATED: 24 min ago
$2,900,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1927
County:

School Ratings & Info

Description

No stone left unturned on this stunning renovation of a classic center entrance eight (8) unit apartment building. 6331-33 N. Wayne is a turnkey investment property located in the desirable Edgewater neighborhood and is essentially on-campus to Loyola University. This high-end renovation offers an incredible investment return and is priced to sell at over a 7% cap on actual rents. The building was gut renovated and completed in 2022. The building is now fully occupied with solid tenants paying over $21,000 per month in rent. These jumbo apartments cater to both the local Edgewater population and to the Loyola University student population. 6331-33 N. Wayne is comprised of seven (7) 3 bedroom 2 bathroom units, one (1) 3 bedroom 1 bathroom unit and four (4) garage spaces. All apartments feature oversized layouts with designer styled chef kitchens, bathrooms with high end finishes, master suites, abundant, private outdoor space, and modern floor plans. Unique designer touches also include built in breakfast nooks, streak free graphite appliances with beautiful Quartz counter tops and classy hardwood floors. All new electric service, plumbing, central HVAC systems, water main, flood control systems, and in-unit W/D in all units. There is a new exterior porch with large balconies offering residents a private and ample outdoor space. A new owner has the rare opportunity to acquire a stabilized multifamily asset with a nice cash-on-cash return upon acquisition.

Monthly Payment Calculator



© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Rossi and Taylor Realty Group. Based on information submitted to the MRED as of 2022-12-01T21:58:12.717 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
www.rossiandtaylor.com/homes/131984100
Print Image

6331 N Wayne Avenue Chicago, IL 60660

  • Price: $2,900,000
  • Status: Active Under Contract
  • On Site: 113 Days
  • Updated: 24 min ago
  • MLS #: 11487324
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1927
Built
Neighborhood:
Chi - Edgewater
County:
Cook
Area:
Chi - Edgewater
Property Description
No stone left unturned on this stunning renovation of a classic center entrance eight (8) unit apartment building. 6331-33 N. Wayne is a turnkey investment property located in the desirable Edgewater neighborhood and is essentially on-campus to Loyola University. This high-end renovation offers an incredible investment return and is priced to sell at over a 7% cap on actual rents. The building was gut renovated and completed in 2022. The building is now fully occupied with solid tenants paying over $21,000 per month in rent. These jumbo apartments cater to both the local Edgewater population and to the Loyola University student population. 6331-33 N. Wayne is comprised of seven (7) 3 bedroom 2 bathroom units, one (1) 3 bedroom 1 bathroom unit and four (4) garage spaces. All apartments feature oversized layouts with designer styled chef kitchens, bathrooms with high end finishes, master suites, abundant, private outdoor space, and modern floor plans. Unique designer touches also include built in breakfast nooks, streak free graphite appliances with beautiful Quartz counter tops and classy hardwood floors. All new electric service, plumbing, central HVAC systems, water main, flood control systems, and in-unit W/D in all units. There is a new exterior porch with large balconies offering residents a private and ample outdoor space. A new owner has the rare opportunity to acquire a stabilized multifamily asset with a nice cash-on-cash return upon acquisition.
Exterior Features

Exterior Building Type Brick Foundation Details Concrete Perimeter Outdoor Parking 1-5 Spaces Parking Total 5

Interior Features

Cooling Central Air Heat Ventilation Central Heat/Indiv Controls Number Of Dishwashers 8 Number Of Dryers 8 Number Of Ranges 8 Number Of Washers 8

Property Features

Additional Parcels YN No Approximate Age New Rehab Built Before1978 YN Yes Contingency Attorney/Inspection Continue To Show No - Has Seller Written Direction Electric Circuit Breakers Gross Income 268872 Gross Scheduled Income 268872 Insurance Expense 6000 Maintenance Expense 2800 Mls Actual Status Contingent Net Operating Income 203859 Operating Expense 57092 Tax Annual Amount 19507 Tax Year 2020 Tenant Pays Air ConditioningElectricityHeatHot Water Total Monthly Income 22406 Type Multi Family 5+ Zoning Multi

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Triton Realty Group Llc: 312-788-9379.


© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Rossi and Taylor Realty Group. Based on information submitted to the MRED as of 2022-12-01T21:58:12.717 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_11487324-1.jpg https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_11487324-1.jpg https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_11487324-1.jpg
Logo
Rossi and Taylor Realty Group
8025 Wicker Avenue
St John IN, 46373