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About the Listing 8395 - 83642
Discover an exceptional investment opportunity or the perfect single family conversion in this stately, rehabbed Greystone located in Chicago's sought after Wrigleyville/Lakeview community. Situated on the historic Newport Avenue District, a landmark block renowned for its beautiful, intact stone fronted three flats. This building offers a classic Chicago experience with modern amenities. The building is comprised of three well maintained units. The top floor, duplex up, owner's unit, offers the scale and comfort of a single family home. Spanning the second and third floors, it features an open concept main level with a chef's kitchen, 42" cabinets, stone countertops and hardwood floors a private rear decks and a spacious bedroom and full bath. The upper level features an open style primary bedroom with a walk in closet, a large seating area and fireplace. The primary bath features double vessel sinks, a whirlpool tub and a separate steam shower. This level includes the spacious third bedroom, a full bath and it's own private rear deck. The true highlight is the rare, private 27'x22' rooftop deck, perfect for entertaining with stunning city skyline views. The first floor unit is a bright and spacious 3-bedroom, 2-bath with soaring windows, tall ceilings, and a large open kitchen. This unit has it's own private rear deck and direct access to the expansive 20'x19' deck above the garage. The garden unit, a bright 2-bedroom, 1-bath, offers direct access to the generous brick paved backyard. This property has been cared for by the live in owner for 30 years, with significant updates including plumbing and electrical, tuck-pointing (2016), a new roof (2015), and premium windows (2020). Parking for three cars adds significant value. Currently configured as a high income three flat, the building generates a total annual income of $117,600 with a net operating income of $90,822, representing a consistent 6 percent CAP rate with room for growth. This is a remarkable opportunity for a live in owner to generate a large income stream while building equity, a long term investor seeking a strong return, or a developer looking to convert it into a magnificent single family home. Located in the desirable Nettlehorst Elementary School District, this property is just steps from Wrigley Field, shopping, dining, and a short walk to the "L" train and Lake Michigan. Don't miss this chance to own a piece of classic Chicago in an unbeatable location.
Listing Highlights for 902 W Newport Ave
Status
Active
Days on Site
5
Property Type
Multi-Family
MLS ®
12461474
Year Built
1901
Total Square Footage
0
Lot/Acreage
25x117
County
Cook
Area
CHI - Lake View
School District
299
Elementary School
Nettelhorst Elementary School
Interior Details
- Bedrooms: 8
- Bathrooms: 6 Full
- Appliances: Water Heater-Gas
- Air Cond:
- Heating: Natural Gas,Electric,Forced Air,Steam,Baseboard,Indv Controls
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished,Exterior Entry,Full
- Other:
- Water: Lake Michigan,Public
Exterior Details
- Garage Capacity: 2 car
- Parking Spaces: 2
- Lot Dimensions: 25x117
- Roof: Rubber
- Others:
- Sewer: Public Sewer,Storm Sewer
- Parking Features: Garage Door Opener,On Site,Garage Owned,Detached,Garage
Financial Details
- Tax Amount: $18,138
- Taxes w/Assessments: N/A
- Tax/Property ID: 14204100540000
- Tax Year: 2023
Payment Calculator
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Listing Location
Questions About..
902 W Newport Ave Chicago, IL 60657
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