4832 N Winthrop Ave - Apartments FOR SALE


Chicago, IL 60640- Uptown Chicago
$1,290,000 USD
847-778-8746
4832 N Winthrop Ave, Chicago, IL for Sale
$1,290,000 USD
Apartments - FOR SALE
1/22
null | 5.18% Cap Rate

4832 N Winthrop Ave
Chicago, IL 60640
Uptown Chicago


HIGHLIGHTS

  • Full gut renovation completed within the past 10 years
  • Six stabilized units with updated interiors and systems
  • Basement offers potential to add a 2-bed ADU (7th unit)
  • In-place rents below market with strong upside due to increased demand from the new Lawrence Red Line Station
  • Close to the lakefront, Uptown’s entertainment district, and major venues
  • Supplemental parking income potential from nearby event traffic

OVERVIEW

4832 N Winthrop Ave presents a rare opportunity to acquire a fully gut-renovated multifamily building in the heart of Uptown—one of Chicago’s most vibrant and transit-oriented neighborhoods. Renovated in the past 10 years, the property features six modern residential units with individual HVAC and efficient layouts. This investment offers stable income with plenty of room to grow. In addition, the partially finished basement offers the potential to add a 7th unit as an 2-bedroom accessory dwelling unit (ADU). Currently, in-place rents are below market averages, providing immediate upside for the next owner. With the grand reopening of the Lawrence Red Line station after a four-year, multibillion-dollar reconstruction, the tenant demand is expected to rise significantly. The new accessibility to public transportation creates strong rent growth potential in the coming years. This enhanced transit access, combined with the property’s proximity to Uptown’s entertainment district and lakefront amenities, positions it perfectly for longterm appreciation. The building sits next to a brand-new public park and just steps from the iconic Aragon Ballroom, Riviera Theatre, and Green Mill Lounge. The popularity of these venues drives consistent demand for off-street parking, creating an additional income opportunity via platforms like SpotHero. The neighborhood’s walkability, access to Lake Shore Drive, and growing retail and dining scene make this a prime investment opportunity.

FOR SALE DETAILS

PRICE

$1,290,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

6

PRICE/UNIT

$215,000

CAP RATE

5.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1903

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,966 SF

ZONING

-

APN/PARCEL ID

14-08-414-026-0000

ASK ABOUT THIS PROPERTY

Matthew FritzshallTriton Realty Group, LLCMore Info
847-778-8746

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Matthew FritzshallTriton Realty Group, LLCMore Info
847-778-8746

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