Kiser Group is pleased to exclusively offer for purchase the sale of 317 S. Homan, a nine (9) unit center entranced walk-up located in Chicago’s historic East Garfield Park neighborhood. The property is located two (2) blocks Garfield Park, which features ponds & gardens, athletic facilities, & the renowned Garfield Park Conservatory. Furthermore, the property sits just two (2) blocks from the I-290 Express and Chicago's Blue Line "El" train station at Kedzie-Homan, which both provide tenants a quick and easy commute to Chicago's downtown (roughly 10 minutes.)317 S. Homan has an incredibly desirable unit composition and is currently comprised of three (3) 3Bd/2Ba units, three (3) 3Bd/1.5Ba units, two (2) 1Bd/1Ba units, and one (1) 0Bd/1Ba unit, all of which were completely gut rehabbed to the bricks in 2013. Furthermore, all of units have been exceptionally maintained with updated kitchens, bathrooms, and boast incredibly spacious layouts. Recent capital improvements to the building consist of, but not limited to: a new electric service with in unit breaker boxes, in-unit and separate furnaces and hot water tanks, new windows, 100% copper plumbing, new tear off roof, and a new wood porch. Furthermore, there are (9) parking spots in the rear, which provide tenants an additional amenity.317 S. Homan provides an investor with a unique opportunity to acquire a stabilized and strong cash flowing asset in Chicago’s desirable pocket of East Garfield Park. From day one, a new owner will capitalize on an incredibly strong tenant base, and will realize an in place cap rate of 8.02% and a cash-on-cash return of nearly 15%.
