2418 N Western Ave - Apartments FOR SALE


Chicago, IL 60647- Logan Square | 
$900,000 USD
630-485-8685
2418 N Western Ave, Chicago, IL for Sale
$900,000 USD
Apartments - FOR SALE
1/41
null | 5.07% Cap Rate

2418 N Western Ave
Chicago, IL 60647
Logan Square


HIGHLIGHTS

  • Prime Bucktown location at the convergence of Bucktown, Logan Square, and West Lakeview
  • Immediate rental upside with current rents (~$1,756/mo) well below market (~$2,300/mo)
  • Separately metered utilities: individual HVAC, electric panels, and water heaters per unit

OVERVIEW

PRIME BUCKTOWN 4-FLAT VALUE-ADD INVESTMENT OPPORTUNITY 2418 N Western Avenue offers an investor or owner-occupant a four-unit residential property situated at the convergence of Bucktown, Logan Square, and West Lakeview. The building features three 1BR/1BA units in the front building and a detached 1BR/1BA rear coach house across ~3,000 NRSF on a 2,725 SF lot. Key Property Features: • Individual Utilities: Separate HVAC, 100-amp electrical panels, and dedicated 50-gallon hot water tanks per unit. • Building Infrastructure: Vinyl windows, pitched asphalt shingle roof, common area laundry, enclosed rear porches, and 1 exterior parking space included. • Proven Rental Upside: In-place rents average $1,756/month against a $2,300/month market average. Marking existing leases to market yields an 8.05% Stabilized Cap Rate ($72,449 NOI) and 7.93x GRM with no initial capital expenditure required. • Owner-Occupant Potential: Unit 2F is in the process of moving out (expected vacant by 9/30/26), creating immediate occupancy flexibility. • Transit-Oriented Location: Located 0.4 miles from the Western Blue Line station (~10 minutes to the Loop) with rapid access to I-90/94 (Kennedy Expressway).

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$239 USD /SF

# OF UNITS

4

PRICE/UNIT

$225,000

CAP RATE

5.07%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1880

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

C1-2

APN/PARCEL ID

13-25-431-032-0000

ASK ABOUT THIS PROPERTY

Niko ApostalEssex 312, LLCMore Info
630-485-8685

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Niko ApostalEssex 312, LLCMore Info
630-485-8685

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