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$1,665,000
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Property Description
Gorgeous Brick Multi-Unit Offering A 6.3% Cap Rate in The Perfect Depaul University Location! A Brick Beauty Nestled On One Of The Prettiest Residential Streets in Lincoln Park. Each Unit Is Beautifully Updated and Fully Occupied With The Potential To Increase Rents. This Unique Property Offers Five Units With One Pin, Including Four 1 Bed/1 Bath Units Plus A Stunning Stand-Alone 3 Bed/ 2 Bath Farm Style Coach House With All Newer Windows and Hardy Plank Siding Finished in 2019! Each Unit Checks The Boxes, Easy To Rent With Updated Kitchens & Baths, Central Air, In-Unit Washer/Dryers, Hardwood Floors, Bright & Sunny, and Well Maintained. Pleasure To Manage With Fantastic Tenants Who Appreciate The Fine Taste and Design Of Each Unit. Additional Features Include High Ceilings, Built-In Closets, Stone Countertops, Ss Appliances, & Custom Window Treatments. Long-Term Investment With R-4 Zoning Offers Investors An Excellent Opportunity To Add This Beautiful Lincoln Park Property To Their Portfolio. Crawl Space Offers 2022 Concrete Flooring and Lighting, 2021 Roof Silver-Coated. Steps To Highly Rated Oscar Mayer School, Depaul University, Close By Red and Brown Lines, Restaurants, Shopping, Highway Access and So Much More! Agent Owned
Full Property Details
Full Property Details for 2246 N Magnolia Ave
General
- Sold For: $1,665,000
- Taxes: $26,352 (2021)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 11711217
- Added to Site: 1, 081 day(s) ago
Location
- Area: CHI - Lincoln Park
- County: Cook
- Driving Directions: WEBSTER NORTH ON MAGNOLIA BETWEEN WEBSTER AND BELDEN
- Location Details: Public Transport Avail, Freestanding/Urban
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Heat/Individual Controls, Forced Air
Structural Information
- Construction: Brick, Wood Frame
- Exterior Const.: Brick
- Roof: Reflective Coating
- Stories/Levels: 2
- Current Bldg. Use: Multi-Family
- Year Built: 1895
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 5
- Units w/Range/Oven: 5
- # Dryers: 5
Lot Features
- Lot Size (Acres): 0.06
- Lot Size (Sq. Ft.): 2,976
- Lot Dimensions: 24 x 124
- Frontage: City Street, Alley Access
- Potential Use: Condominium, Single Family
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $30,707
- Assessment Year: 1895
- Tax Amount: $26,352
- Tax Year: 2021
- Tenant Pays: Air Conditioning, Electricity, Heat, Sewer, Varies by Tenant
Disclosures and Reports
- Property ID: 14321120160000
Listed by @properties Christie's International Real Estate
Sold by Berkshire Hathaway HomeServices Chicago
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Schools
Schools serving 2246 N Magnolia Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Mayer Elementary School 2250 North Clifton Avenue, Chicago, IL 60614 | PK-8 | 0.1 mi |
Lincoln Park High School, Chicago, IL 2001 North Orchard Street, Chicago, IL 60614 | 9-12 | 0.8 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2246 N Magnolia Ave
Date
Details
Price
Change
Source
5/26/2023
Sold
$1,665,000
-3.48%
MLS
2/01/2023
Listed
$1,725,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2246 N Magnolia Avenue, Chicago, IL 60614 (MLS# 11711217) is a Commercial property that was sold at $1,665,000 on May 26, 2023. Want to learn more about 2246 N Magnolia Avenue? Do you have questions about finding other Commercial real estate for sale in Lincoln Park? You can browse all Lincoln Park real estate or contact a Coldwell Banker agent to request more information.

