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1859 W Chicago Ave

7 Unit Apartment Building $2,849,000 ($407,000/Unit) 6.68% Cap Rate Chicago, IL 60622

Apartment Buildings Illinois Chicago 1859 W Chicago Ave, Chicago, IL 60622

Investment Highlights

  • Excellent West Town signalized corner location
  • Highly desirable brick building | Fully rehabbed armchair investment
  • Highly stable retail tenant (Veterinarian Office) with long- term lease
  • Stabilized asset with a strong tenant mix and room for rent growth
  • Located within the Chicago Avenue T.O.D boundaries
  • This property is owned by an Illinois Real estate broker

Executive Summary

1859 W Chicago Ave is a ±9,267 SF mixed-use building located on the corner of Chicago and Wolcott Avenues in the heart of Chicago’s Ukrainian Village neighborhood. The property is fully occupied by seven (7) tenants; Ukranian Village Veterinary Center on the first floor, and six (6) residential units on the second through fourth floors. All units were fully rehabbed in 2020.
This signalized corner location is surrounded by strong neighborhood retail including Roots Pizza, West Town Bakery, and Cleo’s Bar. The property is also just 2 blocks from the neighborhood grocery store, Mariano’s. This stabilized property is ideal for an investor looking to enter the growing West Town/Ukrainian Village sub-market. This property is owned by an Illinois Real estate broker.

Attachments

1859 W Chicago Ave - Sale OM 2024 v.2

Property Facts

Price $2,849,000 Building Class C
Price Per Unit $407,000 Lot Size 0.07 AC
Sale Type Investment Building Size 9,267 SF
Cap Rate 6.68% Average Occupancy 100%
No. Units 7 No. Stories 4
Property Type Multifamily Year Built/Renovated 1888/2020
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
  • Office Office Residential
 Parking Ratio 0.54/1,000 SF
Apartment Style Mid Rise
Price $2,849,000
Price Per Unit $407,000
Sale Type Investment
Cap Rate 6.68%
No. Units 7
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
  • Office Office Residential
Apartment Style Mid Rise
Building Class C
Lot Size 0.07 AC
Building Size 9,267 SF
Average Occupancy 100%
No. Stories 4
Year Built/Renovated 1888/2020
Parking Ratio 0.54/1,000 SF

Links

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Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (70)
Bike Score ®
Biker's Paradise (97)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 17-07-201-001-0000 Improvements Assessment $96,976
Land Assessment $18,024 Total Assessment $115,000

PROPERTY TAXES

Parcel Number
17-07-201-001-0000
Land Assessment
$18,024
Improvements Assessment
$96,976
Total Assessment
$115,000

zoning

Zoning Code B3-2
B3-2
(312) 676-1866

  • Listing ID: 31578935

  • Date on Market: 4/22/2024

  • Last Updated:

  • Address: 1859 W Chicago Ave, Chicago, IL 60622

More public record information on 1859 W Chicago Ave, Chicago, IL 60622

The Multifamily Property at 1859 W Chicago Ave, Chicago, IL 60622 is currently available For Sale. Contact SVN | Chicago Commercial for more information.

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1859 W Chicago Ave, Chicago, IL for sale Building Photo- Image 1 of 8
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1859 W Chicago Ave
(312) 676-1866 x

1859 W Chicago Ave

1/2

Drew Dillon

(312) 676-1866

(312) 676-1866

Scott Maesel

(312) 676-1860

(312) 676-1860

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