3211-3215 N Sheffield Ave - Apartments FOR SALE


Chicago, IL 60657- Lakeview
$4,000,000 USD
312-676-1860
3211-3215 N Sheffield Ave, Chicago, IL for Sale
$4,000,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

3211-3215 N Sheffield Ave
Chicago, IL 60657
Lakeview


HIGHLIGHTS

  • Located in the heart of Lakeview near Wrigley Field.
  • Value-add mixed-use property featuring 6,321 SF of 2nd-generation restaurant space, four (4) 2bd-1ba spacious apartment units and onsite parking.
  • 2nd generation restaurant space with phenomenal existing conditions, including in-place black iron, walk-in coolers, 800A electrical service & more.
  • Al fresco potential with operable accordion glass storefront and the opportunity for outdoor patio seating.
  • Residential apartment units all feature a spacious floor plan with an expansive living area, great natural light, hardwood floors and in-unit laundry.
  • Notable sub-market drivers include Wrigley Field, The Vic Theatre, Target, Whole Foods and the highly acclaimed Southport retail corridor.

OVERVIEW

Rarely available value-add mixed-use property located in the heart of Lakeview near Wrigley Field, featuring 6,321 SF of second-generation restaurant space, four spacious 2BD/1BA apartment units, and dedicated on-site parking. The restaurant space offers phenomenal existing infrastructure, including in-place black iron, walk-in coolers, 800A electrical service, an expansive kitchen with multiple hoods, folding accordion glass storefront, over 70’ of Sheffield Avenue frontage, and additional basement storage. The operable storefront creates excellent al fresco potential with an opportunity for outdoor patio seating. The four residential units feature spacious floorplans, expansive living areas, great natural light, hardwood floors, and in-unit laundry. Unit 2S, more recently upgraded, features enhanced kitchen finishes and a bathroom with heated floors. The property benefits from an exceptional Lakeview location surrounded by prominent retail, dining, entertainment, and transit amenities, including Wrigley Field, The Vic Theatre, Target, Whole Foods, and the highly acclaimed Southport retail corridor. Strong neighborhood demographics are supported by a diverse mix of young professionals, families, and longtime residents. Excellent transit connectivity is just steps away at CTA Belmont Station, providing access to the Red, Brown, and Purple Lines, along with multiple bus routes. The combination of substantial restaurant infrastructure, residential income, dedicated parking, prominent frontage, and premier Lakeview positioning creates a compelling opportunity for an investor or owner-user to acquire and reposition a highly distinctive mixed-use asset.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$360 USD /SF

# OF UNITS

5

PRICE/UNIT

$800,000

CAP RATE

Request Cap Rate

% LEASED

47%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,375 SF

ZONING

B3-2

APN/PARCEL ID

14-20-425-010-0000,14-20-425-011-0000

ASK ABOUT THIS PROPERTY

Scott MaeselSVN | Chicago CommercialMore Info
312-676-1860

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Scott MaeselSVN | Chicago CommercialMore Info
312-676-1860

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