Featured Property - 5800 N. Kenmore
This vintage walk-up building is located in the heart of the Edgewater Beach neighborhood on Chicago's north side. The units are unusually large. The building is comprised of 1, 2, and 3 bedroom apartments. Current ownership is only the third since the building was constructed in the 1920s. The common areas are mostly original and in very good condition. Capital improvements have been made on an as-needed basis and include newer porches (3 of 4), newer windows (face brick sides), roof (15-year-old tear off with regular maintenance), and numerous unit updates. The opportunity is to invest in a core Edgewater Beach building and move rents to appropriate levels for the submarket, as current rents are significantly below market given the very long-term ownership and tenancy.
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