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2038 N Kostner AVE Chicago, IL 60639
7,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 7,400 sqft
Price per Sqft $179
MLS Listing ID 12709995
Maintenance Fees $7,200
Year Built 1926
Annual Tax Amount $14,313
Tax Year 2024
Lot Dimensions 50 x 125
Property Sub-Type Multi Family 5+
Property Description
2038 N Kostner Ave is a center-entrance, six-unit apartment building in Chicago's Hermosa neighborhood. The property sits on a double lot totaling 6,270 SF with a rear courtyard and a 4-car garage. The unit mix includes (1) 4-Bed/1-Bath, (3) 3-Bed/1-Bath, (1) 3-Bed/1-Bath garden, and (1) 2-Bed/1-Bath garden. The above-grade units averaging 1,398 SF and the garden units 900 SF. Systems include individual furnaces with window A/C, separate 100-amp electric panels, and separate hot water tanks per units. Tenants are responsible for their own heat and hot water costs. The property represents an opportunity for a new buyer to acquire a high-quality building in an appreciating neighborhood with strong cash flow in-place and future value-add upside. At list price, the building is offered at a 9.27x gross rent multiple or a 7.26% in-place cap rate without any renovation or capital investment. Future upside can be unlocked through the installation of in-unit laundry and central air conditioning at the property.
Location
State IL
County Cook
Area Chi - Hermosa
Interior
Cooling Window Unit(s)
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Brick
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Philip Leigh of Essex 312, LLC