$1,925,000
2735 N Magnolia Avenue
Chicago, IL, 60614
Welcome to 2735 N. Magnolia, located in Lincoln Park, one of Chicago’s most sought-after neighborhoods. Ideally located on a low-density, tree-lined street, just steps from DePaul University’s Lincoln Park campus. Rental demand in this area is consistently high, given its proximity to neighborhood retail, dining, and public transportation, ensuring strong tenant demand and long-term investment stability. The property consists of (5) units featuring a brick walk-up three (3) unit building in the front and a two (2) unit frame coach house in the rear. Both buildings are equipped with individual HVAC and hot water heaters for each unit, providing tenants with control over their own utilities and reducing owner-paid expenses. Additionally, the common area laundry facilities are owned, which provides an additional income stream for the property. The property has an ideal unit mix, including three (3) three bedroom, one bathroom apartments in the front building and two (2) one-bedroom, one bathroom units in the coach house. All apartments have well laid out floor plans and abundant natural light. All one (1) bedroom apartments have additional den space. The property has received significant capital improvements over the years including individual HVAC, individual hot water heaters, a new catch basin and drain line, updated windows, and well-maintained tuckpointing and a roof. This offering presents several value add avenues for an investor to increase the property’s revenue. Modernization of the one the (1) non-conforming garden unit would unlock substantial upside income potential. By bringing rent to market levels in current condition, a new investor could achieve a 6.68 cap rate, allowing for a significant cash-on-cash return for many years to come.
Property Details
Price:
$1,925,000
MLS #:
MRD12434402
Status:
Active
Beds:
0
Baths:
0
Address:
2735 N Magnolia Avenue
Type:
Commercial
Neighborhood:
CHI – Lincoln Park
City:
Chicago
Listed Date:
Jul 31, 2025
State:
IL
ZIP:
60614
Year Built:
1893
Schools
Interior
Cooling
Central Individual
Exterior
Construction Materials
Brick, Wood, Vinyl Siding
Financial
Maintenance Fee
$2,400
Tax Year
2023
Taxes
$28,191
Debra Dobbs is one of Chicago’s top realtors with more than 41 years in the real estate business.
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2735 N Magnolia Avenue
Chicago, IL
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