2646 North Orchard Street
Closed
Lincoln Park
$1,750,000
Whether you’re considering selling or buying a multi-family property, the time is ripe for action.. Buyers can unlock New Opportunities with as low as 5% down (owner occupy) with the changing landscape in the multi-family space as the recent decision by Fannie Mae and Freddie Mac to lower the required down payment for owner-occupant purchases. The down payment requirement has dropped from 15%-25% to an astonishingly low 5% for 2-4 unit properties. This move has opened the doors for new buyers, creating a surge in demand for multi-family units in Chicago. Sellers looking to exit could be in a great position with this increased demand.
Property Type
Bedrooms
12
Bathrooms
6
Half Baths
0
Square Footage
3,625
Unit Count
6
Year Built
1930
Neighborhood
Lincoln Park
Multi Family
Property Details
Listing Agent:
Jason Rowland
312.927.1942
Seize this rare (assumable debt @ 4.20%) investment opportunity for this 6-unit situated in the heart of Lincoln Park on the coveted Orchard Street. This 6-unit multifamily building presents an exceptional value-add opportunity for savvy investors. Occupying an oversized lot, the full masonry building showcases a blend of timeless elegance and functional modernity with outdoor spaces for each unit, in-unit laundry, and hardwood floors throughout. The diverse mix of apartments includes three spacious 3-bedroom, 1-bathroom units and three 1-bedroom, 1-bathroom units, making it an attractive portfolio addition for capturing varied tenant demographics. Don't miss out on this unique offering in one of Chicago's most sought-after streets in Lincoln Park.