2729 N Magnolia Avenue

Chicago, IL 60614

SOLD BEFORE PRINT. Fantastic opportunity to invest in a renovated turnkey 3-unit property which includes a coachhouse with a 2 car garage on a beautiful tree-lined street in Lincoln Park. Also, this building could easily be converted into a single family. FRONT BUILDING has 2 units: 1) First floor unit is a full floor 2 bedroom/ 1 bath simplex. Current rent is $1900/month which is below market because the current Tenant has lived there for 7 years. He's on a month-to-month, but would love to stay. 2) Second floor unit is a 3 bedroom/ 3 bath duplex-up. Current rent is $3400 which is way below market (market value is approximately $4K) because the Tenant has lived there for many years as well. Lease expires 9/30/24. This unit would make a perfect owner's unit for someone looking to offset their mortgage payment by renting out the other apartments. COACHHOUSE has a 2 car garage on the first level and a 2 bedroom/1 bath on the 2nd level + a bonus room on the first level. Rent is currently $2450 and the lease expires on 4/30/25. Each unit has its own HVAC system, in-unit laundry, modern kitchen and bathrooms. Roof was a complete tear off approximately 3-4 years ago. Major renovation was done in 2009 with front facade, electrical, plumbing, HVAC, kitchens, and bathrooms. New water tanks within the past 3-4 years for the first floor and the coachhoue. Two new bathrooms installed in the duplex in 2021. Many windows were replaced over the last 3-4 years as well as appliances.