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6100 N Paulina Street

Chicago, IL 60660
  • $7,400,000
  • STATUS: Active
  • ON SITE: 311 Days
  • MLS #: 11806043
$7,400,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1924
County:

School Ratings & Info

Description

Built in 1924, rare, turnkey 23 unit apartment building in Edgewater just north outside Andersonville. Fully leased and condo conversion quality with reconstruction including brand new water main, all new gas and water piping and systems, complete window replacement, new overlay rubber roof with skylights over stairwells. Four separate entrances. Located on the corner of Paulina and Glenlake. Each entry with call box intercom system to a tenant's cell phone. All Chicago red brick with two car, all brick garage, large decks up to code and beautiful, secured courtyard with four sets of tables/chairs, bike racks, plantings, mulched areas. Window and lentil replacement. All new interior lighting. 7' entry doors. 800 amp electrical service. Top of the line, and absolutely stunning mechanicals in basements with plenty of room for future tenant and common building storage capabilities. Three basements in total with high ceilings to stand up in. All copper plumbing lines. All separate gas meters. Each unit has central heat, central air, in unit washer and dryer. All new kitchens, bathrooms, flooring, appliances, lighting, dedicated gas/electric meters, radiant heating for basement/vestibules, structural joists replaced, etc. THIS IS A TRUE GUT REHAB. No expense spared. Each tier, or set of sis has its own central cable box. Each unit is already wired for cable and cable ready. 100% fire code rated. All Glenlake entrances have skylights at the top of the refurbished stairwells. Original, printed wainscoting. Lobbies with fresh carpeting and stamped tile floors, classic contemporary wood augmentations. All legitimate leases, 12 month minimum term. All tenants credentialed including full credit report, income, landlord, employment verification, background checks. This building runs itself. A must see. Very low maintenance and sit back and collect rent. A prized piece for a portfolio or star piece for a first timer. Legally zoned for 24 units. Assumable mortgage balance of $3.627M @ an interest rate of 3.09% with 4 years left on the loan as of RIGHT NOW

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© 2024 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 Jasinski Home Team | Berkshire Hathaway HomeServices Chicago. Based on information submitted to the MRED as of 2024-04-18T17:22:16.603 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.

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6100 N Paulina Street Chicago, IL 60660

  • Price: $7,400,000
  • Status: Active
  • On Site: 311 Days
  • MLS #: 11806043
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1924
Built
Neighborhood:
Chi - Edgewater
County:
Cook
Area:
Chi - Edgewater
Property Description
Built in 1924, rare, turnkey 23 unit apartment building in Edgewater just north outside Andersonville. Fully leased and condo conversion quality with reconstruction including brand new water main, all new gas and water piping and systems, complete window replacement, new overlay rubber roof with skylights over stairwells. Four separate entrances. Located on the corner of Paulina and Glenlake. Each entry with call box intercom system to a tenant's cell phone. All Chicago red brick with two car, all brick garage, large decks up to code and beautiful, secured courtyard with four sets of tables/chairs, bike racks, plantings, mulched areas. Window and lentil replacement. All new interior lighting. 7' entry doors. 800 amp electrical service. Top of the line, and absolutely stunning mechanicals in basements with plenty of room for future tenant and common building storage capabilities. Three basements in total with high ceilings to stand up in. All copper plumbing lines. All separate gas meters. Each unit has central heat, central air, in unit washer and dryer. All new kitchens, bathrooms, flooring, appliances, lighting, dedicated gas/electric meters, radiant heating for basement/vestibules, structural joists replaced, etc. THIS IS A TRUE GUT REHAB. No expense spared. Each tier, or set of sis has its own central cable box. Each unit is already wired for cable and cable ready. 100% fire code rated. All Glenlake entrances have skylights at the top of the refurbished stairwells. Original, printed wainscoting. Lobbies with fresh carpeting and stamped tile floors, classic contemporary wood augmentations. All legitimate leases, 12 month minimum term. All tenants credentialed including full credit report, income, landlord, employment verification, background checks. This building runs itself. A must see. Very low maintenance and sit back and collect rent. A prized piece for a portfolio or star piece for a first timer. Legally zoned for 24 units. Assumable mortgage balance of $3.627M @ an interest rate of 3.09% with 4 years left on the loan as of RIGHT NOW
Interior Features

Heat Ventilation Forced AirGas Number Of Dishwashers 23 Number Of Dryers 23 Number Of Washers 23

Property Features

Additional Parcels YN No Approximate Age Older Built Before1978 YN Yes Gross Income 467256 Gross Scheduled Income 467256 Insurance Expense 11814 Maintenance Expense 7592 Mls Actual Status Active Net Operating Income 443171 Operating Expense 24085 Tax Annual Amount 30598 Tax Year 2021 Tenant Pays Air ConditioningElectricityHeatOther Total Monthly Income 38938 Type Multi Family 5+ Zoning MULTI

Listing information © 2024 Midwest Real Estate Data LLC.
Listing provided courtesy of Baird & Warner: 312-640-7010.


© 2024 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 Jasinski Home Team | Berkshire Hathaway HomeServices Chicago. Based on information submitted to the MRED as of 2024-04-18T17:22:16.603 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
 
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