12.08.20
Kiser Group Brings 46-Unit Apartment Building Located in Chicago’s Popular South Humboldt Park Neighborhood to Market
CHICAGO, IL – 3432-40 W. Franklin Blvd. has been listed for sale by multifamily brokerage firm Kiser Group. The 46-unit multifamily property is located in Chicago’s South Humboldt Park neighborhood. 3432-40 W. Franklin Blvd. is listed for $4,325,000 and represented by Advisors Jack Petrando, Danny Logarakis and Rick Ofman.
“We anticipate seeing local and out-of-state interest for this Opportunity Zone property,” said Petrando. “The heavy lifting has already been done, and this multifamily asset is fully renovated and stabilized.”
“3432-40 W. Franklin presents an investor with a rare opportunity to acquire a high unit count property in South Humboldt Park before values climb closer to levels seen in West Town and Wicker Park,” said Logarakis.
“Multifamily investment properties in this area experience high occupancy rates with long-term tenants and cash flow stronger than similar properties in other Chicago neighborhoods,” said Ofman.
The 3432-40 W. Franklin was originally built in 1927 and was fully gut-renovated by the current owner. Floor plans include 23 one-bedroom, one-bathroom units, 22 two-bedroom, one-bathroom units and 1 three-bedroom, one-bathroom unit. One-bedroom rents range from $624 to $825. Rents for two-bedroom units range from $725 to $1,000 per month, and the three-bedroom unit rents for $1,375 per month.
