Kiser Group is pleased to present for purchase 2525 N. Orchard St., a 4-unit building with City of Chicago issued licenses to operate short-term rentals in units. The unit mix consists of one 2b/1ba garden apartment (legal) and three massive fully furnished 4B/2Ba apartments that ownership previously operated as short-term rentals until the pandemic hit. For much of the past year, the units were rented as co-living spaces, with each room rented between $800-1000 per month. As Chicago continues to open and the market for short-term rentals heats up, these units are starting to return to the highest and best use as vacation rentals.

This is an opportunity to acquire a unique turnkey building in a premiere Lincoln Park location already set up for short-term rentals AND has the licenses to do so legally. When running at normal operations as vacation rentals, the three 4-bedroom units are estimated to generate $225,000 of gross revenue ($75k/unit). All signs are pointing towards a far better 2021 summer rental season, and in 2022 this investment will be far better than the 6% cap at which it is currently listed.

Ideal Lincoln Park location steps from DePaul University, Lake Michigan, and both Clark St. and Lincoln Ave. entertainment corridors