Pioneer Realty Group has been named the exclusive sales representative for a newly redeveloped six-unit multifamily building featuring one commercial unit and five residential units in the Roscoe Village neighborhood of Chicago.
The property, at 2120 W. Belmont Ave., is being listed by Helen Bailey, Managing Boker of Pioneer Realty Group, for $2.999 million.
Pioneer’s Property Management Division has been the building and leasing manager of the property since 2019. When aggregated, the building generates a monthly rent roll of $16,384 and an annual net operating income of $180,900.
The building, originally developed in 1903, totals 8,330 square feet. On the ground floor there is a 1,250-square-foot retail space leased on a long-term basis to Glow Birth & Body, a massage therapist. The first-floor space also features a two-bedroom, two-bathroom apartment. The second and third floors each feature one three-bedroom, two-bathroom and one two-bedroom, two-bathroom units. There is an unfinished basement, totaling 2,080 square feet.
The seller recently completed an extensive high-end renovation of the building that included the installation of copper plumbing and individual HVAC systems. The units also feature in-unit laundry. The asset also has three parking spaces.
