IL > Chicago
Chicago, IL 60659,2040 W Hood AVE
Chicago, IL 60659,2040 W Hood AVE
Chicago, IL 60659,2040 W Hood AVE
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$1,435,000
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7,405 Sqft Lot
Active Under Contract

2040 W Hood AVE Chicago, IL 60659

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Park Place Realty Group LLC

Park Place Realty Group LLC

+1(708) 722-5106

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 12336205

Maintenance Fees $5,600

Year Built 1963

Annual Tax Amount $15,710

Tax Year 2023

Lot Size 7,405 Sqft

Lot Dimensions 50X148

Property Sub-Type Multi Family 5+

Property Description

2040 West Hood Avenue presents a compelling investment opportunity in Chicago's West Ridge neighborhood, a vibrant area with convenient access to public transportation and retail hubs. The location of this property is less than a ten minute walk from the Peterson/Ridge Union Pacific North Metra train station. Additionally, this 10-unit property, including one non-conforming garden unit, consists entirely of one-bedroom apartments. Approximately 8 of the tenants and their rental income are secured through partnerships with various social service organizations, ensuring stable occupancy and reliable cash flow. These affiliations provide a clear path for a new investor to adjust rents to market levels over time, enhancing revenue potential. Beyond the strength of its tenant base, the property benefits from additional income streams, with all parking spaces leased at market rates to tenants of neighboring properties. Its combination of strong occupancy fundamentals and operational upside positions 2040 West Hood Avenue as an attractive asset with both immediate and long-term growth potential.

Location

State IL

County Cook

Area Chi - West Ridge

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Level or Stories 2

Midwest Real Estate Data (MRED) IDX
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Stephen Rachman • Marcus & Millichap Chicago Apartment Brokers

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106

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