5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
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5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
5865 N Magnolia Avenue
For Sale

5865 N Magnolia Avenue

5865 N Magnolia Avenue, Chicago, IL 60660

$1,060,000
Fabulous 6-unit investment or owner-occupied property in Edgewater! Apartments G (3BR/1 Ba), Apt 1 (3BR/1.5Ba), and 3N (1Br/1Ba) have standard, 12mo leases, while apts 2S, 2N, and 3S (all 1BR/1Ba) are furnished rentals. Seller is willing to master lease those 3 apts at above-market rents, producing an NOI of $88k and 8% CAP rate. Buyer also has the option to purchase furniture and operate the 3 airbnbs for a $100k NOI and 9% CAP. Lots of flexibility, and Seller is happy to discuss all options. Apt 1 would also make a great owner's unit and features central heat and air (rest of units each have own furnace + window AC). Recent updates include a full gut rehab of the Garden unit and substantial upgrades to the kitchens and bedrooms in apts 2S and 3S, plus resurfacing of roof. Building has laundry room with 2 coin washers and 2 coin dryers, plus 3 car garage. Addtl rental income potential by raising Apt G and 1 rents plus charging higher parking rates. Top location in Edgewater on quiet street, but short walk to Thorndale red line stop, Loyola University, and stores/restaurants on Broadway. Please note that multiple units are non-conforming, so this is deal requires CASH or COMMERCIAL FINANCING.

10
beds

7
baths

Schedule a Showing

I would love to show you our beautiful property. Please select your preferred date and time below. I will be in touch shortly to confirm your appointment.

Schedule a Showing

I would love to show you our beautiful property. Please select your preferred date and time below. I will be in touch shortly to confirm your appointment.
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Thank you for your interest in 5865 N Magnolia Avenue, Chicago, IL 60660. We are reviewing your request and will be in touch shortly!
Steve Koleno

Steve Koleno

Features & Amenities

Interior

  • total bedrooms10
  • Total bathrooms7

Area & Lot

  • Status For Sale
  • MLS® ID11971572
  • TypeResidential
  • YEAR BUILT1914
  • School District299

Exterior

  • water SourceLake Michigan
  • HEAT TYPENatural Gas, Forced Air
  • sewerPublic Sewer

Financial

  • Sales Price$1,060,000
  • Real Estate Tax $15,156/yr

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