Asking Price: $13,000,000
Building Size: 45,475 SQ FT
Cost per Square Foot: $285.87
Kiser Group is pleased to offer the deconversion sale of Dover Court Condominiums. The property is an S-shaped courtyard building ideally located in the heart of Uptown, Chicago's most appreciating neighborhood. Dover Court is a sixty-four (64) unit building, consisting of forty-eight (48) one-bedroom units, twelve (12) two-bedroom units, three (3) three-bedroom units, and one (1) studio. The majority of the units are not owner-occupied as sixty-one percent (61%) of the units are leased. The property was converted to condominiums in 2007. All units have condominium quality finishes: granite countertops, stainless steel appliances, new cabinetry, dishwashers, microwaves, and in-unit laundry. The property includes separate storage lockers for each unit, bike storage, and a fitness center. The property is professionally landscaped and contains uplighting, fountains, and in-ground sprinklers. Dover Court presents an investor with a rare opportunity to acquire a high unit count in a well-maintained property in Uptown before values soar to the levels seen in Lakeview and Lincoln Park. The combination of identical finishes throughout the units and the high percentage of leased units will make this deconversion one of the smoothest to date.
Key Points: Gated Courtyard Condo Building 2 Blocks from Uptown Entertainment District 60% Rented / 40% Owner-Occupied In-Unit Laundry and Dishwashers Close Proximity to Red Line, Andersonville, and Lake Michigan