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    2648 N Orchard Street

    Chicago, IL 60614
    • $1,850,000
    • STATUS: Active Under Contract
    • ON SITE: 48 days
    • MLS #: 11126498
    Under Contract
    UPDATED: 79 min ago
    $1,850,000
    • 9
      BEDS
    • 0.08
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Information

    Elementary School:
    School District:
    299

    Description

    THIS OVERSIZED BRICK 4-UNIT BUILDING ON AN EXTRA DEEP 145 FT LONG LOT in a PRIME EAST LINCOLN PARK LOCATION on one of Chicago's most beautiful blocks. The deeper lot size of this property allowed for a larger building footprint and larger units than the average building. As a result, the rents are higher. Three of the units offer 2 full baths, a hard to find but highly desirable attribute in the Chicago rental market. This easy to rent location can't be beat and is just 4 blocks to the lakefront, 4.5 blocks to the Redline "L"and nestled in between Clark Street and Halsted with their plethora of shops and restaurants. There couldn't be a better location for your long-term investment! This updated building boasts spacious floor plans with 2BTH units in the top three apartments, private back decks and a private roof-top deck, separate HVAC systems, updated thermal pane windows, 4 fireplaces and a top-floor 2BR, 2BTH penthouse apartment with in-unit laundry and private roof-top deck with skyline views of downtown Chicago! Perfect for an owner-occupied buyer or investor alike. 1st and 2nd floor apartments feature hard-to-find 3BR, 2BTH layouts, updated kitchens with granite counters & updated baths as well. Garden unit was beautifully gut rehabbed in 2018 with all new kitchen (cabinetry, granite countertops, new appliances), new flooring, closet, stairs, paint and electrical. Current owners have invested heavily in improvements since purchasing this property and it shows! In addition to the garden unit gut rehab, recent updates include: refinishing of floors, two bathroom renovations, all new kitchen appliances in 3 of the apartments, new skylight in penthouse, new roof torch down, flashing, new gutter, multiple HVAC updates including old boiler removal, new central air compressors in three of the units, construction of private storage units (one for each apartment), new garage roof and gutter, masonry work and tree removal just to name a few. This building offers the perfect marriage of classic Chicago architecture on the exterior and modern and updated apartments and systems on the interior in an A+ easy-to-rent Lincoln Park Location. It also offers a 2-car brick garage and very large back yard patio. Opportunity exists to potentially increase gross rents with further improvements.

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    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or eXp Realty. Based on information submitted to the MRED as of 2021-08-04T23:52:47.543 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    2648 N Orchard Street Chicago, IL 60614

    • Price: $1,850,000
    • Status: Active Under Contract
    • Updated: 79 min ago
    • MLS #: 11126498
    9
    Beds
    0
    Baths
    0
    ½ Baths
    0.08
    Acres
    1927
    Built
    Neighborhood:
    Chi - Lincoln Park
    County:
    Cook
    Area:
    Chi - Lincoln Park
    Elementary School:
    Alcott Elementary School
    High School:
    Lincoln Park High School
    School District:
    299
    Property Description
    THIS OVERSIZED BRICK 4-UNIT BUILDING ON AN EXTRA DEEP 145 FT LONG LOT in a PRIME EAST LINCOLN PARK LOCATION on one of Chicago's most beautiful blocks. The deeper lot size of this property allowed for a larger building footprint and larger units than the average building. As a result, the rents are higher. Three of the units offer 2 full baths, a hard to find but highly desirable attribute in the Chicago rental market. This easy to rent location can't be beat and is just 4 blocks to the lakefront, 4.5 blocks to the Redline "L"and nestled in between Clark Street and Halsted with their plethora of shops and restaurants. There couldn't be a better location for your long-term investment! This updated building boasts spacious floor plans with 2BTH units in the top three apartments, private back decks and a private roof-top deck, separate HVAC systems, updated thermal pane windows, 4 fireplaces and a top-floor 2BR, 2BTH penthouse apartment with in-unit laundry and private roof-top deck with skyline views of downtown Chicago! Perfect for an owner-occupied buyer or investor alike. 1st and 2nd floor apartments feature hard-to-find 3BR, 2BTH layouts, updated kitchens with granite counters & updated baths as well. Garden unit was beautifully gut rehabbed in 2018 with all new kitchen (cabinetry, granite countertops, new appliances), new flooring, closet, stairs, paint and electrical. Current owners have invested heavily in improvements since purchasing this property and it shows! In addition to the garden unit gut rehab, recent updates include: refinishing of floors, two bathroom renovations, all new kitchen appliances in 3 of the apartments, new skylight in penthouse, new roof torch down, flashing, new gutter, multiple HVAC updates including old boiler removal, new central air compressors in three of the units, construction of private storage units (one for each apartment), new garage roof and gutter, masonry work and tree removal just to name a few. This building offers the perfect marriage of classic Chicago architecture on the exterior and modern and updated apartments and systems on the interior in an A+ easy-to-rent Lincoln Park Location. It also offers a 2-car brick garage and very large back yard patio. Opportunity exists to potentially increase gross rents with further improvements.
    Exterior Features

    Architectural Style Traditional Exterior Building Type Brick Foundation Details Brick/MortarStone Garage On Site Yes Garage Ownership Owned Garage Type Detached Lot Features Fenced Yard Number Of Cars 2 Parking Garage Unit1 Floor Level 1 Unit2 Floor Level 2 Unit3 Floor Level 3 Unit4 Floor Level G Waterfront YN No

    Interior Features

    3 Bedroom Unit In Building Yes Appliances Features Unit1 StoveRefrigeratorCentral Air ConditionerFireplace-WoodHardwood Floors Appliances Features Unit2 StoveRefrigeratorDishwasherCentral Air ConditionerFireplace-WoodHardwood Floors Appliances Features Unit3 StoveRefrigeratorWasherDryerDishwasherCentral Air ConditionerFireplace-WoodLaundry Hook-UpHardwood FloorsSkylights/Windows Appliances Features Unit4 StoveRefrigerator Basement Full Basement Description Partially FinishedExterior Access Bathrooms Total Integer 7 Bedrooms Below Grade 0 Bedrooms Possible 9 Full Baths In Building 7 Full Baths In Unit1 2 Full Baths In Unit2 2 Full Baths In Unit3 2 Full Baths In Unit4 1 Half Baths In Building 0 Half Baths In Unit1 0 Half Baths In Unit2 0 Half Baths In Unit3 0 Half Baths In Unit4 0 Heating Natural GasForced Air Number Of Bedrooms Unit1 3 Number Of Bedrooms Unit2 3 Number Of Bedrooms Unit3 2 Number Of Bedrooms Unit4 1 Number Of Rooms Unit1 6 Number Of Rooms Unit2 6 Number Of Rooms Unit3 6 Number Of Rooms Unit4 3 Other Equipment Tv-CableCo Detectors Rooms Total 21

    Property Features

    Additional Parcels YN No Age Description 91-100 Years Built Before1978 YN Yes Community Features CurbsSidewalksStreet LightsStreet Paved Corporate Limits Chicago General Information None Gross Income 157200 Insurance Expense 3100 Lease Exp Date Mo Yr Unit1 05/22 Lease Exp Date Mo Yr Unit2 03/22 Lease Exp Date Mo Yr Unit3 Na/Na Lease Exp Date Mo Yr Unit4 Na/Na Lot Size Less Than .25 Acre Lot Size Dimensions 25X145 Net Operating Income 126539 New Construction YN No Other Expenses 500 Property Sub Type 3 Flat3 Story Unit/S Rebuilt YN No Rehab YN No Security Deposit Unit1 0 Security Deposit Unit2 0 Security Deposit Unit3 0 Security Deposit Unit4 0 Sewer Public Sewer Special Assessments N Special Listing Conditions List Broker Must Accompany Special Service Area N Tax Annual Amount 24110.11 Tax Year 2019 Tenant Pays Unit1 ElectricGasHeat Tenant Pays Unit2 ElectricGasHeat Tenant Pays Unit3 ElectricGasHeat Tenant Pays Unit4 GasHeat Total Rental Income 157200 Unit1 Rent 2800 Unit2 Rent 3200 Unit3 Rent 3600 Unit4 Rent 0 Water Sewer Expense 1750 Water Source Lake Michigan Zoning Multi

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Baird & Warner.


    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or eXp Realty. Based on information submitted to the MRED as of 2021-08-04T23:52:47.543 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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