224 N Lockwood Avenue

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224 N Lockwood Avenue

Chicago, IL 60644
Asking Price
$390K
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Multifamily apartment building available for purchase in Chicago
  • Located at 224 N Lockwood Avenue, Illinois 60644
  • Priced at 390000 dollars for the asset
  • Property situated within a dense urban residential market
  • Asset type suitable for long term residential investment

What's Special

This multifamily apartment building at 224 N Lockwood Avenue in Chicago is currently available for sale. It represents a practical acquisition for investors looking to expand their portfolio within the Chicago residential market. The property provides a residential footprint suitable for long-term rental income strategies in a well-established urban environment. Chicago maintains a diverse and robust economy, characterized by its status as a major Midwestern transportation and commerce hub, which consistently drives demand for multi-family housing options across its various neighborhoods. The city's dense population and extensive transit infrastructure support a steady need for rental units among local residents. Prospective buyers will find this asset well-positioned to serve as a staple residential holding. Its location in the 60644 zip code places it within a dense urban landscape, offering utility for operators focused on providing stable, mid-market housing solutions to the surrounding community.

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NOI
$80,000
Cap Rate
20.51%
DSCR
3.46
Strong
Cash-on-Cash
48.59%
Monthly Payment
$1,929.507
Annual Cash Flow
$56,845.913

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