1940 W. Addison is a rarely available, center entrance brick 6-flat located at the intersection of Chicago's Lakeview, Roscoe Village, and North Center neighborhoods. The property sits just two blocks west of the Addison Brown Line stop, and is just steps from numerous bars, restaurants, and CTA bus lines, as well as less than a mile to historic Wrigley Field. The property is comprised of six 2Bed/1Bath units and a 6-car parking pad. The units are incomparable, as they are 30-50% larger than many similar 2Bed/1Bath units in the area and feature separate living rooms, dining rooms, and kitchens. The building is equipped with 200-amp electric service, individual furnaces, individual hot water tanks, and shared laundry in the basement. There are also decorative fireplaces, hardwood floors, and private balcony/patio space in each unit. Three of the units have had kitchens and baths updated within the past few years to include stainless steel appliances, modern cabinetry, etc. The other three units are in older condition and would likely benefit from the same kitchens-and-baths rehab that the other units have received, though it would absolutely be possible to raise rents in their current condition. A new owner could also utilize the plentiful closet space to add in-unit laundry and capture additional rental upside.
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