905 W Fletcher St - Apartments FOR SALE


Chicago, IL 60657- Lakeview | 
$2,290,000 USD
773-570-0318
905 W Fletcher St, Chicago, IL for Sale
$2,290,000 USD
Apartments - FOR SALE
1/39
null | 5.5% Cap Rate

905 W Fletcher St
Chicago, IL 60657
Lakeview


HIGHLIGHTS

  • East Lake View, new hospital expansion and new Whole Foods
  • Half Block from Belmont Red Line Station
  • Large, extra-wide 37.5' lot

OVERVIEW

905 W Fletcher St consists of two buildings totaling 7 units on a 37.5' extra-wide lot. The front building is a stately greystone and brick 4-unit with a copper cornice. The rear building is a 3-unit frame coach house. 6 of 7 units have Central Air and all units pay for their own heat. 3 of 7 units have in-unit laundry and the others share a common laundry room. There is a single tandem parking spot off the rear alley. The asset is located in East Lake View half a block from the Belmont Red Line CTA station. This is a dynamic area of the city experiencing significant development: immediately to the south, Advocate Illinois Masonic is undergoing a $645 million expansion adding a 230-bed new private-bed tower in October 2025. In addition, Whole Foods is opening at the southeast corner of Belmont & Clark. The property is being listed at $2.29 mm, an in-place 5.5% cap rate and 11.0x GRM. The building has had very little turnover in the past three years and there is an +18% mark-to-market opportunity within the in-place rent roll. A new buyer could stabilize the asset near a 6.9% cap rate and 9.4x GRM.

FOR SALE DETAILS

PRICE

$2,290,000 USD

PRICE/SF

$364 USD /SF

# OF UNITS

7

PRICE/UNIT

$327,143

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1872

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

RM-4.5

APN/PARCEL ID

14-29-206-016-0000

ASK ABOUT THIS PROPERTY

Garrett LeighEssex 312, LLCMore Info
773-570-0318

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Garrett LeighEssex 312, LLCMore Info
773-570-0318

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