4046 N Austin Ave
Marcus & Millichap is pleased to present this multi-family real estate opportunity in the Portage Park neighborhood of Chicago. The subject property of 4046 North Austin Avenue is located 9.9 miles northwest of Chicago's downtown loop area, 2.4 miles west of the Kennedy Expressway, and 500 feet north of the CTA's Irving Park Road & Austin Avenue bus stops 80 and 91. The unit mix for the subject property consists two three-bedroom one-bathroom units that measures 1,200 square feet respectively. Additionally, the property features a third non-conforming two-bedroom one-and one-half-bathroom garden unit that measures 600 square feet.
The Portage Park neighborhood is anchored by the 36-acre park located in the epicenter of Portage Park. This famous park was host to the Pan-American Games in 1959 and the 1972 U.S. Olympic swimming trials where Mark Spitz once set a world record. The park is now home to various different neighborhood sporting events, with multiple athletic fields, swimming pools, playgrounds, and a field house. Portage Park is primarily a residential neighborhood but the area still boasts a few must-see attractions, like the elegantly restored Portage Theater and The Patio.
An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of this asset as well as the ability to slightly raise current rents and cash flow the property.