1947 W Chicago Ave - Storefront Retail/Residential FOR SALE


Chicago, IL 60622- West Town
$1,825,000 USD
847-624-6639
1947 W Chicago Ave, Chicago, IL for Sale
$1,825,000 USD
Storefront Retail/Residential - FOR SALE
1/13
null | 5.94% Cap Rate

1947 W Chicago Ave
Chicago, IL 60622
West Town


HIGHLIGHTS

  • Renovated (2018) stabilized 6-unit mixed-use building in Chicago’s West Town.
  • Five (5) apartments (4x 1BD/1BA + 1x 3BD/2BA penthouse) with modern layouts, in-unit laundry, and tenant-paid utilities
  • Ground-floor retail leased to West Town Chamber of Commerce through Feb 2029, offering stable cash flow.
  • Prime Chicago Ave & Damen Ave location with strong visibility, foot traffic, and access to dining, shopping, and transit.
  • Opportunity to increase residential rents in existing condition with long-term upside from neighborhood growth.

OVERVIEW

Triton is pleased to offer for sale 1947 W. Chicago Ave., a six (6) unit mixed-use investment property located in the heart of Chicago’s desirable West Town neighborhood. This offering presents an investor with the opportunity to acquire a renovated, stabilized asset with an attractive and diversified income stream. The building features five (5) apartments and one (1) ground-floor retail space. The retail space is currently leased to the West Town Chicago Chamber of Commerce through Feb 2029 and houses local small businesses, providing immediate and stable cash flow.. The current vendor is Marci Maxine Vintage + Art Studio. The apartment unit mix has four (4) 1-bedroom / 1-bath apartments and one (1) 3-bedroom / 2-bath penthouse apartment. Each unit features separate tenant-paid electric, HVAC, in-unit washer and dryer, and well-laid-out floor plans. 1947 W. Chicago sits in a vibrant, prime West Town location, a neighborhood known as a cultural hub with premier shopping and dining options. The Neighborhood's diverse history, brought by the \ various sub-neighborhoods it encompasses (including East Village, Ukrainian Village, and Wicker Park, among others), has contributed to its unique character. The property is ideally positioned directly on bustling Chicago Avenue with cross street Damen Avenue, providing excellent visibility and foot traffic for the retail tenant, and offering residents convenient access to all the neighborhood has to offer. The location also benefits from close proximity to public transportation, offering seamless connectivity throughout Chicago. An investor has the opportunity to acquire a well-maintained asset with rental upside in existing condition. While the property currently provides a stable income, there is potential to increase rents on the residential units through cosmetic renovations. The desirable location and evolving neighborhood dynamics provide a strong foundation for future rental growth and capital appreciation.

FOR SALE DETAILS

PRICE

$1,825,000 USD

PRICE/SF

$273 USD /SF

CAP RATE

5.94%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1904

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

B3-3

APN/PARCEL ID

17-07-200-058-0000

ASK ABOUT THIS PROPERTY

Harrison CohenTriton Realty Group, LLCMore Info
847-624-6639

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Harrison CohenTriton Realty Group, LLCMore Info
847-624-6639

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