Essex Realty Group Lists Mixed-Use Property in Chicago’s Old Town
Essex Realty Group Lists Mixed-Use Property in Chicago’s Old Town
CHICAGO, IL – Essex Realty Group, LLC has been exclusively engaged to market for sale 1628-1630 North Wells Street, a mixed-use property ideally situated along Wells Street in Chicago’s iconic Old Town neighborhood. The offering features four residential apartments, ground-floor retail space, a two-unit coach house, and 12 outdoor parking spaces on 8,737 square feet of land, presenting investors with a flexible opportunity in one of Chicago’s most desirable neighborhoods.
Essex Realty Group Principal Jim Darrow, Principal Jordan Gottlieb, and Director Brian Keegan exclusively represent the seller in the offering.
1628-1630 North Wells Street Investment Opportunity
The property presents multiple paths to value creation, including the opportunity to operate the asset as-is, pursue renovations to increase rental income and attract a national or regional retail tenant, or utilize the property as a covered land strategy for a potential mixed-use redevelopment opportunity in the future.
The existing apartments feature a mixture of finishes, including hardwood floors, stainless steel appliances, and in-unit laundry. New ownership may update the units in their current configurations or completely remodel them into modern two-bedroom, two-bathroom layouts, offering the potential to significantly increase rental income in this high-demand submarket.
Transaction Summary
| Property | Neighborhood | Property Type | Unit Count | Sale Price | Representation | Transaction Team |
|---|---|---|---|---|---|---|
| 1628-1630 N. Wells Street | Old Town | Mixed-Use | 6 Residential Units | Contact Broker for Pricing | Seller Representation by Essex Realty Group |
Jim Darrow Jordan Gottlieb Brian Keegan |
A Rare Value-Add Opportunity in Old Town
“A value-add opportunity with 50 feet of frontage on the 1600 block of Wells Street in Old Town doesn’t come around often — this market has historically had very little supply and consistently strong demand. This is a once-in-a-generation opportunity,” said Jim Darrow.
Prime Old Town Location Along Wells Street
Located directly along Wells Street in the heart of Old Town, 1628-1630 North Wells Street benefits from strong foot traffic, visibility, and proximity to some of Chicago’s most popular restaurants, bars, and entertainment destinations.
The property is located a few doors north of Second City comedy club, across the street from a newly planned Whole Foods, and just two blocks west of Lincoln Park. North Avenue Beach is also a short walk through the park, further enhancing the property’s location and appeal.
Work With Essex Realty Group
Essex Realty Group specializes in the sale of multifamily and mixed-use investment properties throughout Chicago and the surrounding suburbs. Our team provides investors and property owners with market expertise, transaction strategy, and access to a broad network of buyers.
To learn more about 1628-1630 North Wells Street or discuss your multifamily or mixed-use investment property, contact the Essex Realty Group team.
About Essex Realty Group
Essex Realty Group, LLC is a Chicago-based commercial real estate brokerage specializing in multifamily investment sales. Since 1990, Essex has served Chicago’s investment real estate community, providing expertise to multifamily property owners and investors throughout the Chicago metropolitan area.
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