3751 N Marshfield Ave - Apartments FOR SALE


Chicago, IL 60613- Lakeview
$4,150,000 USD
847-624-6639
3751 N Marshfield Ave, Chicago, IL for Sale
$4,150,000 USD
Apartments - FOR SALE
1/34
null | Request Cap Rate

3751 N Marshfield Ave
Chicago, IL 60613
Lakeview


HIGHLIGHTS

  • Prime Location: Ideally located in the vibrant heart of the Lakeview / Wrigleyville neighborhood with seamless city connectivity.
  • Diverse Unit Mix: Featuring a desirable range of 1-bedroom, 2-bedroom, and 3-bedroom apartments.
  • Value-Add Upside: Convert non-conforming garden unit from a studio to ADU 1-Bedroom and elevate rent to market levels.
  • Walk to Everything: Minutes from the iconic Wrigley Field, Lake Michigan, and a plethora of popular dining, retail, and entertainment options.

OVERVIEW

Triton presents the exclusive opportunity to acquire 3751-53 N. Marshfield, a thirteen (13) unit multi-family property, complemented by one (1) additional nonconforming 14th unit. Ideally located on the corner of Marshfield & Grace, in the heart of Chicago’s dynamic Lakeview / Wrigleyville neighborhood, this impressive building offers an attractive and diverse unit mix, featuring three (3) 1-bedroom/1- bathroom units, seven (7) 2-bedroom/1-bathroom units, two (2) 3-bedroom/1-bathroom units, one (1) 3-bedroom/2-bathroom duplex unit, and one (1) studio/1-bathroom unit, all boasting spacious floor plans. In order to satisfy current code violation, existing 4-bedroom unit needs to be reconverted into a 2-bedroom unit. An investor has the ability to acquire a solid income-generating asset with value-add potential, including the ability to raise rents to market levels in their existing condition and unlock additional value adding a legal 14th ADU market rate unit. Further strategic interior enhancements could optimize returns in this high-demand market allowing a new investor to achieve a 7.16% cap rate post-stabilization. The property is ideally positioned within walking distance to Lakeview and Wrigleyville’s premier retail, diverse dining, and vibrant entertainment along Clark Street, Addison Street, and the Southport Corridor. Residents also enjoy immediate access to the Addison and Sheridan CTA Red Line Stations and multiple bus stops. This offering provides investors a well-located, stabilized asset with substantial rental upside, capitalizing on one of Chicago’s most dynamic neighborhoods.

FOR SALE DETAILS

PRICE

$4,150,000 USD

PRICE/SF

$231 USD /SF

# OF UNITS

14

PRICE/UNIT

$296,429

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

RS-3

APN/PARCEL ID

14-19-224-001-0000

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.