Map of Property

3245 W. 23rd St.

3245 W. 23rd St. , Chicago, IL 60623

  • For Sale $1,950,000
  • Property Type Multi-Family
  • Property Size 5,883 SF
  • Units 10
  • Lot Size 0.1 Acre
  • Year Built 1910
  • Date Updated Apr 11, 2024
South of Cermak, West of Kedzie, East of Spaulding and North of 24th St.Welcome to the perfect investment opportunity in the vibrant neighborhood of Little Village! Presenting a 10-unit multifamily building that combines the benefits of a prime location, below market rents, and recently rehabbed units. This property offers tremendous potential for both immediate cash flow and long-term growth. One of the standout features of this multifamily building is its below market rents. With rental rates lower than the prevailing market rates in the area, this property provides a unique advantage. This presents an excellent opportunity for an investor to capitalize on the potential for increased cash flow. By gradually raising the rents to market levels, you can significantly boost your monthly income and enhance the overall profitability of the investment. Located in the vibrant community of Little Village, this building is situated in an area experiencing rapid growth and development. Little Village has become a highly sought-after destination, attracting a diverse and thriving population. The neighborhood offers a rich cultural atmosphere, with an array of local businesses, shops, and restaurants, creating a vibrant and dynamic living experience for residents.

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Highlights

  • Strong Cash Flow
  • Below Market Rents
  • New Rehab
  • Rapidly Appreciating Neighborhood

Contacts

broker

Paul Tsakiris

First Western Properties

(773) 355-4780

Location

Getting Around

  • Walk Score ®

    87/100 Very Walkable

  • Transit Score ®

    60/100 Good Transit

  • Bike Score ®

    72/100 Very Bikeable
Powered by Walk Score ®
  • City Chicago, IL
  • Neighborhood Little Village
  • Zip Code 60623
  • Market Chicago

Points of Interest

  • Kedzie

    0.31 miles

  • Central Park

    0.51 miles

  • California

    0.71 miles

  • Pulaski

    0.94 miles

  • Western

    1.18 miles

  • Western Avenue

    1.26 miles

  • Kostner

    1.38 miles

  • Damen

    1.59 miles

  • Kedzie-Homan

    1.69 miles

  • 35th/Archer

    1.95 miles

  • Exxon

    0.17 miles

  • Shell

    0.38 miles

  • Mobil

    0.65 miles

  • Amstar

    0.88 miles

  • Mobil

    1.10 miles

  • Speedway

    1.12 miles

  • BP

    1.14 miles

  • Marathon

    1.19 miles

  • GoLo

    1.29 miles

  • BP

    1.32 miles

  • Overflow Parking

    1.37 miles

  • Lot W5

    1.91 miles

  • 35th/Archer Park & Ride

    1.97 miles

  • Lot A4

    2.09 miles

  • Lot C4

    2.12 miles

  • Lot A3

    2.14 miles

  • Lot B4

    2.15 miles

  • Trailer Parking

    2.18 miles

  • Wood Street Parking Structure (WSPS)

    2.20 miles

  • Lot B2

    2.20 miles

  • Karavan Motel

    2.03 miles

  • Shamrock Motel

    2.24 miles

  • Cindy Lyn Motel

    2.29 miles

  • Hyatt Place Chicago - Medical / University District

    2.41 miles

  • Hyatt House Chicago - Medical / University District

    2.46 miles

  • Marriott at Medical District/UIC

    2.69 miles

  • Hotel Chicago West Loop

    2.81 miles

  • Carlton Inn Midway

    3.26 miles

  • Hyatt House

    3.54 miles

  • Chicago Parthenon Hostel

    3.62 miles

  • Dunkin'

    0.15 miles

  • Manolo's. Tamales

    0.24 miles

  • La Chapattis Grocery

    0.36 miles

  • Doña Torta Restaurant

    0.39 miles

  • Taqueria Los Comales

    0.40 miles

  • McDonald's

    0.41 miles

  • Taqueria El Milagro

    0.42 miles

  • Panda Express

    0.47 miles

  • Burger King

    0.52 miles

  • Church's Chicken

    0.61 miles

  • Farragut Career Academy

    0.07 miles

  • Kanoon Magnet School

    0.14 miles

  • Saint Ludmilla School

    0.25 miles

  • Our Lady of Tepeyac High School

    0.27 miles

  • Crown Community Academy

    0.36 miles

  • Spry Elementary School

    0.40 miles

  • Cardenas Elementary School

    0.44 miles

  • Former Nathaniel Pope Elementary School

    0.48 miles

  • Rosario Castellanos Elementary School

    0.50 miles

  • Carole Robertson Center for Learning

    0.52 miles

  • Peter Cottontail Day Nursery

    1.34 miles

  • New Zion Childcare Academy

    1.97 miles

  • Brighton Park Early Learning Center

    2.36 miles

  • Adams Street Child Care Center

    2.55 miles

  • Taylor Tots

    2.66 miles

  • Happy Days Child Care Center

    3.85 miles

  • Sunny Days Kid's Academy

    3.93 miles

  • Little Folks Cottage Inc

    4.01 miles

  • Morningside Children's Academy

    4.04 miles

  • ABC Toon Town Day Care

    4.05 miles

Frequently Asked Questions

What is the lease rate for 3245 W. 23rd St. ?

Rental asking rate at 3245 W. 23rd St. is $975,000.00/YR.

What is the total square footage of 3245 W. 23rd St. ?

3245 W. 23rd St. totals 5,883 square feet.

When was this property built?

3245 W. 23rd St. was built in 1910.

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Contact Listing Broker

broker

Paul Tsakiris

First Western Properties

(773) 355-4780