3320 S Carpenter St, Chicago, IL for sale

Investment Overview

3320 S. Carpenter Street presents an attractive value-add investment opportunity in Chicago’s Bridgeport neighborhood. The brick building contains six legal units consisting of five two-bedroom/one-bath apartments and one studio, plus two large non-conforming loft-style studio units. The non-conforming units may offer the potential to be duplexed into existing apartments or converted to legal dwelling units under Chicago’s expanded ADU ordinance, subject to zoning and municipal approval. A rear brick structure provides additional flexibility and could potentially be converted into a garage, repurposed as an additional ADU, or demolished to create a larger parking pad. The property also includes a full basement with shared laundry and tenant storage. With current annual rental income of $196,440, strong cash flow in place and several opportunities to increase the property’s legal unit count and long-term value, 3320 S. Carpenter offers investors a compelling combination of immediate income and future upside.

Investment Highlights

• Six legal units plus two non-conforming loft-style studio units
• Potential ADU conversion opportunities, subject to municipal approval
• Strong in-place annual rental income of $196,440
• Significant value-add potential
• Solid brick construction
• Full basement with shared laundry and tenant storage
• Desirable Bridgeport location with convenient access to transportation and neighborhood amenities
• Located on a tree-lined dead-end street for limited traffic