3501 W Palmer Street Chicago IL 60647 MLS #MRD12502469

Legal-4 unit building in an appreciating corridor of Logan Square with significant cash flow in-place. The building sits immediately west of Palmer Square and Kedzie Boulevard with recent, nearby new build single-family home sales under contract near $1.5 million. The existing rent roll comprises $84,120 of revenue or a 9.2x gross revenue multiple on in-place income. Additional revenue can be creted by (i) marking the existing rent roll to market, (ii) adding a parking slab with three exterior stalls at the rear of the building, and (iii) creating a small outdoor garden/amenity area in the existing gravel yard at rear. This value-add is projected to result in $96,200 of revenue or a stabilized 7.8x GRM, roughly a 10.0% return-on-cost. All units have furnaces and the large 4 bed / 1 bath duplex has central air conditioning.