2138-40 N. Oakley Ave., Chicago, IL, 60647

2138-40 N. Oakley Ave. Chicago, IL 60647

2138-40 N. Oakley Ave., Chicago, IL, 60647
2138-40 N. Oakley Ave., Chicago, IL, 60647
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,250,000
Last Verified:
Feb 17, 2020

Highlights

  • Property Type: Land
  • Lot Size: 4,800 SF
  • Detached 2 Car Garage
  • Zoning: RT-4
  • PIN(s): 14-31-119-027, 028
  • Taxes (2018): $14,533.37
  • Across from Holstein Park
  • Rail Access: 1 mile from CTA Blue Line Station (California & Damen)

Description

2138-40 N. Oakley Avenue is a 3-flat building located in the Bucktown sub-market of Chicago. Built in 1887, this building consists of 3 residential units. Included in this sale is the vacant 2,400 SF lot due south of the building. Bucktown has become a popular neighborhood for younger professionals and families alike. The neighborhood has exhibited tremendous growth within the last 5 years. This sale presents an opportunity for investors to locate in a beautiful neighborhood with amenities and conveniences.

2138-40 N. Oakley Avenue is an excellent opportunity to acquire a value-add, 3 unit property in Chicago's Bucktown Neighborhood. This well established neighborhood continues to cement itself as a premier neighborhood in Chicago, and the burgeoning market continues to attract investors and families alike. The subject property is located within walking distance to multiple CTA Blue Line stops at Damen and Western, as well as a plethora of premier dining, entertainment, and retail options along Milwaukee Ave., and North Ave. This property provides an investor with a perfect combination to develop in a neighborhood that will be desirable for years to come. On West Side of Oakley. One-way South from Palmer. Facing Holstein Park.


Year Built: 1887
Building Size: 3200.0sq ft
Lot Size: 0.11 acres

Map of 2138-40 N. Oakley Ave., Chicago, IL, 60647

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.