Essex Realty Group, LLC has been exclusively engaged to market for sale 1001 N. Francisco Avenue, a three-story corner brick apartment building in Chicago’s West Town neighborhood, along the eastern edge of Humboldt Park. The property features 10 residential units plus two non-conforming garden studios. It is being offered as a true value-add opportunity: in-place rents sit well below the surrounding market, every occupied unit is month-to-month, and three units are currently vacant.
The offering presents several compelling renovation scenarios in a market where rehabbed 2 Bed/1 Bath units can achieve $3,000 per month, 2 Bed/2 Bath units can achieve $3,500 per month, and renovated 3 bed/2 bath units can lease for more than $4,000. Additionally, because all leases are month-to-month and three units are vacant, an investor can begin repositioning almost immediately. See back of package for floor plans.
The Subject Property sits at the corner of Francisco Ave. and Augusta Blvd. Its yellow-brick façade carries four bay window towers and the existing units are large. It’s only steps from Humboldt Park and just a short walk from Ukrainian Village with active retail corridors on Division St., Chicago Ave., Western Ave. and North Ave.
The Subject property is situated within Chicago’s vibrant West Town community, along the eastern edge of Humboldt Park. Just west of Downtown Chicago, West Town has emerged as one of the city’s most desirable residential destinations, offering a unique combination of historic neighborhood character, diverse architecture, and an exceptional collection of restaurants, retailers, and entertainment venues.
Encompassing popular neighborhoods such as Ukrainian Village, Wicker Park, East Village, and East Humboldt Park, the area benefits from thriving commercial corridors along Chicago Avenue, Division Street, and North Avenue. Residents enjoy convenient access to Humboldt Park’s expansive green space, recreational amenities, and scenic lagoons, as well as the dining and nightlife destinations of surrounding neighborhoods.
With its established residential character, abundant neighborhood amenities, and convenient connectivity to Downtown Chicago, the property offers an attractive location within one of the city’s most dynamic residential markets.
- Large Corner Brick Apartment Building
- Value-Add Opportunity with Attractive Existing Unit Mix: Expansive 2, 3, and 4-Bedroom Layouts
- Most Leases Month-to-Month or Apartments Vacant and Renovation-Ready
- First Time Offered for Sale in Over 30 Years
- Steps From Humboldt Park & Close to Retail Corridors Along Division, Chicago, Western & North Avenue