$18,333 Per Unit for Multifamily Property

CHICAGO-The location is less than two blocks from the suburb of Oak Park and its Frank Lloyd Wright influences, while the Austin neighborhood on the West Side is showing signs of revitalization.

By Mark Ruda | Updated on December 28, 2001

CHICAGO-Located little more than a block from Oak Park, an 18-unit multifamily rental building in the Austin neighborhood on the West Side may prove to be a diamond in the rough for its new owner. A South Shore Bank beneficial land trust has bought the building at 5848 W. Superior St. for $330,000 — $18,333 per unit.

The apartment mix is 12 one-bedroom units and six studios.

“The building is minutes from Oak Park, in an area that is undergoing major revitalization,” explains Oak Brook, IL-based Inland Real Estate Sales, Inc. sales associate Dan Stratis. “So many of these beautiful turn-of-the-century Victorian homes are being renovated, uncovering some real treasures.”

Stratis, along with Kevin List of Inland’s Chicago office, represented the seller, 5848 Superior Corp. Norm Schmid of Keller Williams Realty represented the buyer.

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