1616 N Western Ave - Apartments FOR SALE


Chicago, IL 60647
$4,350,000 USD
847-328-5444
1616 N Western Ave, Chicago, IL for Sale
$4,350,000 USD
Apartments - FOR SALE
1/19
null | 6.35% Cap Rate

1616 N Western Ave
Chicago, IL 60647


OVERVIEW

Introducing a prime investment opportunity in Bucktown, this newer 10-unit building is a testament to modern luxury and urban convenience. Each extra-wide condo-quality apartment boasts high ceilings, balconies, hardwood floors, granite countertops, and 42-inch cabinets with stainless steel appliances, creating a sophisticated living experience. Oversized windows flood each unit with natural light, enhancing the spacious rooms and elegant interiors. The building includes eight storage units and nine attached garage spots, ensuring ample convenience for residents. Currently, the property is fully occupied with long-term, high-quality tenants, offering stability and immediate rental income. There is significant potential to increase rental rates, supported by the upscale design and desirable location. Featuring eight upscale residential units and two commercial spaces, each with separate tax IDs, this property offers versatility and investment security. Situated near the Blue Line and Western Avenue CTA stop, residents enjoy easy transit access, while the vibrant neighborhood boasts trendy restaurants, fashionable boutiques, art galleries, and music venues, enriching the local lifestyle and attracting a dynamic tenant base.

FOR SALE DETAILS

PRICE

$4,350,000 USD

PRICE/SF

$234 USD /SF

# OF UNITS

10

PRICE/UNIT

$435,000

CAP RATE

6.35%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2013

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

B3-2

APN/PARCEL ID

13-36-432-049-1001,13-36-432-049-1002,13-36-432-049-1003,13-36-432-049-1004,13-36-432-049-1005,13-36-432-049-1006,13-36-432-049-1007,13-36-432-049-1008,13-36-432-049-1009

ASK ABOUT THIS PROPERTY

Yvonne StachyraWesley Realty Group, Inc.More Info
847-328-5444

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Yvonne StachyraWesley Realty Group, Inc.More Info
847-328-5444

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