1553 N Wells St - Apartments FOR SALE


Chicago, IL 60610- Old Town
$15,995,000 USD
773-592-8366
1553 N Wells St, Chicago, IL for Sale
$15,995,000 USD
Apartments - FOR SALE
1/30
null | 6.26% Cap Rate

1553 N Wells St
Chicago, IL 60610
Old Town


HIGHLIGHTS

  • Rare Opportunity to Acquire a New Construction Property in the Heart of Old Town
  • 23 Luxury Apartment Units with Custom Kitchens, Washer/Dryer In-Unit & Private Balconies
  • First Floor Retail Space Leased to Philz Coffee through 2030
  • Prime Location in the Heart of Old Town on Wells Street, 6 Minutes Walking Distance to the Sedgwick CTA Station
  • 2 Blocks from Lincoln Park and the Beautiful Lakefront

OVERVIEW

Old Town Collection (OTC) at 1553 North Wells Street, a luxury mixed-use property in the heart of Chicago’s popular Old Town neighborhood, has been engaged to market for sale. The building is comprised of 23 apartments which feature beautiful high-end finishes including stainless steel appliances, quartz countertops, custom dual-tone kitchen cabinets, custom tile backsplash, in-unit laundry, individual HVAC and private balconies. The building includes one ground level retail space currently occupied by Philz Coffee. Additionally, the property features a dog run, elevator, and garage parking. The property is situated on the east side of Wells Street just south of North Avenue and is conveniently located less than one mile from both the Sedgwick Brown/Purple Line and Clark/Division Red Line L stops. Quick access to both CTA stations and several bus stops provide tenants with many excellent public transportation options. 1553 North Wells Street presents a rare opportunity to acquire a luxury new construction apartment building in the heart of Old Town, steps away from an endless choice of trendy restaurants, bars and entertainment

FOR SALE DETAILS

PRICE

$15,995,000 USD

PRICE/SF

$612 USD /SF

# OF UNITS

23

PRICE/UNIT

$695,435

CAP RATE

6.26%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

2019

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,839 SF

ZONING

B3-5

APN/PARCEL ID

17-04-204-003-0000

ASK ABOUT THIS PROPERTY

James DarrowEssex Realty Group, LLCMore Info
773-592-8366

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

James DarrowEssex Realty Group, LLCMore Info
773-592-8366

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.