518 Western ave - Apartments FOR SALE


Chicago, IL 60612- Lawndale
$699,000 USD
773-305-4858
518 Western ave, Chicago, IL for Sale
$699,000 USD
Apartments - FOR SALE
1/38
null | Request Cap Rate

518 Western ave
Chicago, IL 60612
Lawndale


OVERVIEW

518 S Western Avenue is strategically positioned in Chicago’s rapidly evolving Near West Side / Tri-Taylor corridor, immediately north of the I-290 (Eisenhower Expressway) and just steps from the Illinois Medical District. This high-visibility Western Avenue frontage provides strong vehicle traffic counts, consistent pedestrian activity, and immediate connectivity to downtown Chicago and surrounding neighborhoods. The property benefits from exceptional transportation access. Located just north of the I-290 interchange, the site offers direct expressway access to the West Loop, Downtown, Oak Park, and the greater Chicagoland area within minutes. Multiple CTA bus routes run along Western Avenue and nearby arterial streets, and nearby CTA Blue Line and Pink Line stations provide convenient rail access for commuters and employees. This level of accessibility significantly enhances both residential leasing demand and retail viability. The surrounding area is anchored by major institutional and entertainment drivers, including the Illinois Medical District — one of the largest urban medical districts in the country — home to Rush University Medical Center, Stroger Hospital, and the Jesse Brown VA Medical Center. The district employs tens of thousands of healthcare professionals, researchers, and support staff, creating a consistent demand.

FOR SALE DETAILS

PRICE

$699,000 USD

PRICE/SF

$114 USD /SF

# OF UNITS

2

PRICE/UNIT

$349,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1889

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,423 SF

ZONING

-

APN/PARCEL ID

16-13-234-040-0000

ASK ABOUT THIS PROPERTY

Mitir PatelEssex 312, LLCMore Info
773-305-4858

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Mitir PatelEssex 312, LLCMore Info
773-305-4858

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