6.9 CAP RATE QUEEN! It is hard to find a building that has been completed with such attention to detail and quality of work as 1245 W. Nelson. This outstanding 4-unit building was completely gut rehabbed in 2019 and fully occupied as soon as construction was complete. Almost all units renewed in 2020 with rent increases! No incentives ever required to rent these units. All bedrooms are large enough for queen beds and desks. And LOW LOW maintenance costs as everything is new! The property is located on a quiet one way Lakeview street within walking distance to the EL, Southport Corridor, and all that Lakeview and Lincoln Park have to offer. The front building is comprised of two 4 bed / 3.5 bath duplex units: 1F is a duplex down and 2F is a duplex up. The rear building is also comprised of two units: 1R and 2R. Unit 1R is a 2 bed/2 bath English garden simplex unit that is only a few steps below grade. Unit 2R is a 3 bed / 3 bath duplex up. All units have private entrances and a deck. Property improvements: - new 2" water service with meter vault and booster pump - new gas service with 4 meters - new sewer lines on the property and from building to main sewer in street - new 400amp electrical service with 5 meters - Each building has new overhead sewers, and completely new plumbing, gas piping, electrical, and low voltage. - New mechanicals including individual high efficiency furnaces, humidifiers, air conditioners, and hot water tanks for each unit - New Steel porch with trex decking - Each unit has a deck. Units 1F and 2F have private decks, and units 1R and 2R have a shared deck. - A concrete stairwell with drains has been added and concrete walkways have been rebuilt per plans. - New Iron fence with key codes for each building - Schlage locks with master lock key system - 4 security cameras and outdoor lighting - Professionally landscaped - 1F 4 bed / 3.5 bath duplex down, 2,000sqft $4400/month Lease end 5/31/2022 2F 4 bed / 3.5 bath duplex up, 2,019sqft $4800/month Lease end 4/30/2022 1R 2 bed / 2 bath English garden, 900sqft $2150/month Lease end 5/31/2022 2R 3 bed / 3 bath duplex up, 1,435sqft $3,500/month Lease end 5/31/2022
