3208 N Seminary Avenue Chicago, IL 60657
Introducing 3208 North Seminary tucked into the heart of Lakeview, just a block from the Belmont CTA and a short walk from Wrigley Field and the energy of Clark Street, this four-unit building with a two-car garage sits where renters want to live. It has had the same owner since 2002 and it shows. Every unit has been fully renovated in the last ten years with hardwood floors, granite countertops and porcelain-tiled baths, and the updates have kept coming, including new windows, LED lighting, electronic entry locks, and new furnaces, A/C units and appliances in 2024. Two 3-bedroom units, a renovated 2-bedroom duplex and a garden 1-bedroom each have their own heating, cooling and hot water, which keeps the owner's costs low. The building is fully leased through June 2027 and brings in $139,674 a year against just $24,547 in expenses, for a 6.57 cap rate at $1,600,000. Rents are still below market, with about $11,400 a year in upside, and the building has stayed full anyway. That gives an investor steady income today and a clear path to more as the leases come up.
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Listing Office: Essex 312, LLC
Listing Office Phone: 773-305-4858
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Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.
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