1856 W Chicago Ave - Apartments FOR SALE


Chicago, IL 60622- Ukrainian Village
$7,275,000 USD
312-848-6682
1856 W Chicago Ave, Chicago, IL for Sale
$7,275,000 USD
Apartments - FOR SALE
1/22
null | 6.2% Cap Rate

1856 W Chicago Ave
Chicago, IL 60622
Ukrainian Village


HIGHLIGHTS

  • Prominent Corner Building in Low Density, High Demand Submarket
  • Fully Occupied Commercial with High-Quality Tenants
  • Renovated Apartments with Modern and Timeless Finishes
  • Additional Revenue from Billboard and On-Site Parking
  • Attractive Unit Mix with Half 2 Bed / 1 Bath and Half 3 Bed / 2 Bath Layouts

OVERVIEW

Interra Realty has been exclusively engaged to market 1856 W. Chicago Avenue for sale. The subject investment property is a fully renovated mixed-use asset in the heart of Chicago’s booming West Town Neighborhood. The sellers completed a thoughtful renovation of the apartments featuring modern finishes, separate HVAC, and in-unit laundry. Their attention to detail differentiates the apartments from other rental stock in the neighborhood. The unit mix features all spacious two and three bedroom layouts, with an average unit size of almost 1,000 square feet. The street-level retail is fully leased to two quality tenants who are additive to the building and neighborhood. Altar Home is a home design and accessory store with a coffee shop in the rear of the property. The coffee shop portion also walks out to sidewalk seating on the Wolcott side of the property. The other retail space is leased to Ms. Ann's Boxing & Fitness which is backed by a celebrity boxing figure and local, hands-on operator.

FOR SALE DETAILS

PRICE

$7,275,000 USD

PRICE/SF

$471 USD /SF

# OF UNITS

14

PRICE/UNIT

$519,643

CAP RATE

6.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1899

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,424 SF

ZONING

B3-3

APN/PARCEL ID

17-06-436-007-0000

ASK ABOUT THIS PROPERTY

Joe SmazalInterra RealtyMore Info
312-848-6682

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Joe SmazalInterra RealtyMore Info
312-848-6682

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