5636 - 48 W. Division Street

With its diverse unit mix, and significant value-add potential through upgrades to the commercial spaces (including the vacant corner unit), parking, and laundry facilities, this property is perfectly positioned for investors seeking to capitalize on Chicago’s dynamic rental market. Strategic renovations and efficient management can unlock substantial cash flow potential in this vibrant, historic urban neighborhood.

Executive Summary

This 33-unit mixed-use property, a bank-owned asset in Chicago’s vibrant North Austin neighborhood, offers a compelling investment opportunity within a historic community. Constructed in 1925, the ornate terracotta building features 7 commercial storefronts, 20 one-bedroom/one-bathroom units, and 6 two-bedroom/one-bathroom units, providing a diverse revenue stream.

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Property Highlights

  • Construction: built in 1925 with a well-preserved terracotta exterior

  • Condition: solid structure with a well-maintained roof and mechanical systems

  • Additional Features: interior courtyard with potential for enhancements

  • Value-Add Opportunities: potential for on-site parking addition, a laundry room adjacent to the mechanical room, and upgrades to commercial spaces, including the vacant corner storefront

  • Investment Potential: significant value-add opportunity through targeted upgrades and effective management

 

Offering Terms & Property Details

  • 5636-48 W. Division Street Chicago, IL 60651

  • $2,500,000

  • $111

  • $75,758

  • 26 Units :

    (6) 2 bedroom / 1 bath

    (20) 1 bedroom / 1 bath

  • 7 Units

  • Urban Chicago

  • Austin Chicago

Garfield Park Conservatory

 
 

Neighborhood Highlights

Austin, on Chicago’s West Side, is a historic neighborhood known for its tight-knit community and rich cultural heritage. Featuring tree-lined streets and classic Chicago bungalows, it offers a blend of urban and suburban vibes. Key highlights include the proximity to the expansive Columbus Park and the Garfield Conservatory. With a diverse population, Austin hosts lively community events and is home to cultural landmarks like the Austin Town Hall. Ongoing revitalization efforts are enhancing its appeal, making it a dynamic area with deep roots and a promising future.

Location Benefits:

  • Proximity to Downtown: Less than 10 miles west of downtown Chicago and down the street from Oak Park

  • Transportation: Central Station (Green line) 1.1 miles away; easy access to major highways

  • Airports: Chicago Midway International (9.2 miles, 16 minutes); O’Hare International (12.8 miles, 22 minutes)

  • Amenities: 3 shopping centers within 1.5 miles; popular fast-food chains and local dining

  • Parks: 5 parks within 2.3 miles, including the 135-acre Columbus Park with a fitness center, bike paths, 9-hole golf course and more

Financial Overview

 
 
 
 

Unit Features

  • Residential Units: 26 total units

    • 20 one bedroom / 1 bath

    • 6 two bedroom / 1 bath

  • Commercial Spaces: 7 street-level storefronts with the corner storefront currently vacant

  • Hardwood Floors

  • Well-designed floor plans

  • 1 bed square footage 650(±)

  • 2 bed square footage 875(±)