6355 N Paulina Street, Chicago, Illinois 60660

$2,430,000

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Sold Price
$2,430,000
List Price
$2,500,000
Closing Date
Aug 26, 2026
MLS#
12640869
Status
CLOSED
Type
Commercial
Subtype
Commercial Sale
County
Cook
City
Chicago
Gross Rental Income
208020
Neighborhood
Edgewater
Days On Market
14

Property Description

Fully renovated in 2023, this is a stabilized investment with all new plumbing, electric, roof, high end condo-quality finishes, and an attractive mix of four (4) 2-bed / 2-bath and (2) 3-bed / 2-bath units. Each apartment features in-unit laundry, individual HVAC, and condo quality interiors designed to capture strong tenant demand and support continued rent growth. In addition to its stable in-place income, the property offers a compelling value-add component through the potential addition of a 3-bedroom, 2-bath ADU garden unit in the basement, supported by previously completed plans and approvals for permit. The offering highlights the strength of this dual-faceted investment: a secure 5.79 cap rate in its current condition, with a projected leap to a 7.42 cap rate upon completion of the ADU. Combined with eight (8) on-site parking spaces-three (3) garages and five (5) surface spots-this property offers a rare blend of immediate stability and executable appreciation. Strategically located near Loyola University and the Red Line, the asset is perfectly positioned to capture top-of-market rents in a high-growth North Side corridor.

Additional Information

Tax Year
2024
Tax Amount
$25,598
Annual Tax Amount
25598
Year Built
1919
Lot Dimensions
60x125
Air Conditioning
Central Individual

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Listings courtesy of Midwest Real Estate Data as distributed by MLS Grid

Selling Office: 1st Cornerstone Realty Inc..



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