5000 W Monroe ST Chicago, IL 60644

Pleased to exclusively offer for purchase 5000 W. Monroe, a fifteen (15) unit walk-up located in Chicago's historic Austin neighborhood. The property sits just one block away from Madison St. and Cicero Ave, which both feature an abundance of public transit and retail options. 5000 W. Monroe has an incredibly desirable unit mix which is comprised of nine (9) 2bd/1ba units and six (6) 3bd/1ba, exceptionally spacious units. Furthermore, all of the units feature updated kitchens and baths, and original hardwood flooring throughout. Recent capital improvements to the building consist of, but not limited to: new tuckpointing (2017), new windows, newer individual furnaces, newer hot water heaters (2013 & 2017), new electrical with in-unit breaker boxes, as well as, updated copper plumbing as needed. 5000 W. Monroe provides an investor with the unique opportunity to acquire a true turn key asset. From day one, its next owner will realize an in place cap rate of 8.03% and a cash return of nearly 15%. Furthermore, through improved leasing, management and bringing current rents to market rate levels, an owner could realize a cap rate of 9.21% and a cash-on-cash return of 19.64%.