2725-2741 N Ashland Ave - Apartments FOR SALE


Chicago, IL 60614- DePaul
$11,490,000 USD
224-305-4102
2725-2741 N Ashland Ave, Chicago, IL for Sale
$11,490,000 USD
Apartments - FOR SALE
1/22
null | Request Cap Rate

2725-2741 N Ashland Ave
Chicago, IL 60614
DePaul


HIGHLIGHTS

  • New construction multifamily asset completed in 2020.
  • 18 exterior parking spaces.
  • On-site amenities include fitness center, business center, and recreation/game room.
  • Located in Lincoln Park with proximity to DePaul University (approx. 1 mile).

OVERVIEW

Arden of Lincoln Park presents an opportunity to acquire a trophy-quality, new construction multifamily asset in one of Chicago's premier rental markets. The property is offered at a sale price of $11,490,000, equating to approximately $638,333 per unit. The asset features approximately 8–10% upside in current rental rates, providing investors with an immediate opportunity to increase revenue through lease turnover and mark-to-market rent growth. With its high-bedroom-count unit mix, proximity to DePaul University, and location within the sought-after Lincoln Park neighborhood, the property benefits from consistent rental demand. In addition to its income growth potential, the property offers a viable path to reducing property taxes through reclassification. Combined with its modern construction, amenity offering, and acquisition basis below replacement cost, Arden of Lincoln Park represents a compelling long-term investment opportunity.

FOR SALE DETAILS

PRICE

$11,490,000 USD

PRICE/SF

$295 USD /SF

# OF UNITS

18

PRICE/UNIT

$638,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Arden of Lincoln Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2020

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

B2-3

APN/PARCEL ID

14-29-300-071-0000,14-29-300-121-0000

ASK ABOUT THIS PROPERTY

Matt FeoEssex Realty Group, LLCMore Info
224-305-4102

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Matt FeoEssex Realty Group, LLCMore Info
224-305-4102

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