November 15, 2024 – Anthony Spangler and Danny Breiter of Horvath & Tremblay have successfully completed the sale of a twelve-unit multi-family property in Chicago, Illinois. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $1,265,000.
The property is located at 5821-5825 W 63rd Street in Chicago, Illinois. The Multi-Family Property is comprised of a three-story brick building with twelve (12) residential units comprised of eight (8), 2-Bedroom/1-Bathroom units and four (4), 1-Bedroom/1-Bathroom units. The Property contains 3,922 square feet of area on a 0.2-acre parcel of land. The attractive building also features seven (7) on-site parking spaces, and each unit is separately metered for electricity which the tenants pay directly. The Landlord is responsible for gas fired heat and hot water and domestic water and sewer. The in-place rents are well below market, offering the opportunity to significantly increase the revenue from the Property by raising rents to market rates. The Property is located along W 63rd Street on the southwest side of Chicago. The Property is positioned in the heart of a densely populated residential neighborhood and offers convenient access to area employers, restaurants, and retail amenities. 5285 W 63rd Street is ideally positioned for commuters with quick and convenient access to public transportation including the Midway L Station (2-miles), the Summit METRA & Amtrak Station (3.3-miles), and the Pace bus line along W 63rd Street (300 feet). The Property also offers convenient access to area highways including IL Routes 43 and 50, and Interstates 55 and 294.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.