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This brick masterpiece is classic Chicago: understated but elegant, with accents that never go out of style. Built in 1924, its high-quality construction would be vastly more expensive today. W 64th also enjoys a very livable location next to well-maintained properties, a church, and Ogden Park, a large space that includes a pool, playgrounds, baseball fields, and basketball courts. The neighborhood is residential without being suburban, and amenities are close by.
We have budgeted $15,000 for some basic renovations that should improve quality of life and rental value; in addition, the electricity for each unit is now individually metered, so as leases are renewed, property owners will no longer pay for tenants’ electricity use. Put together, these changes should contribute to a significant increase in rental income over the course of 2022 – we are targeting a new income of approximately 10.30%.
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