ON MARKET – MULTI-FAMILY
1410-12 N. Ashland Ave. Chicago, IL 60622
NEIGHBORHOOD
Wicker Park
PRICE
$2,350,000
NUMBER OF UNITS
8
CAP RATE
6.22%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 1410-12 N. Ashland Ave., a Greystone center-entrance eight-unit building located in Chicago's vibrant Wicker Park neighborhood, steps to Division Street and Milwaukee Avenue.

The Subject Property consists of two (2) 1 Bed/1 Bath, four (4) 2 Bed/1 Bath and two (2) 2 Bed/2 Bath units. All units have undergone varying levels of interior remodeling, including new flooring and updated kitchens. The property also includes central heating and air conditioning, as well as four (4) garage parking spaces with a large common rooftop deck above.

The property has benefited from an extensive list of capital improvements (see Building Fact Sheet) and presents an investor with the opportunity to acquire a well-maintained, stabilized building with additional value-add upside. A new owner has the potential to bring rents to market in the property's current condition or increase further through light interior cosmetic updates, as well as installing in-unit laundry.

1410-12 N. Ashland Ave. is situated on the west side of Ashland Avenue, within walking distance of a multitude of restaurants and cafes along bustling Division Street and Milwaukee Avenue. The property is conveniently located just two blocks north of the Division CTA Blue Line Station, as well as multiple bus stops along Ashland Avenue, offering tenants great public transportation options.

LOCATION DETAILS

The Wicker Park neighborhood is bordered by the Chicago River to the east, Bloomingdale to the north, Division to the south, and Western Avenue to the west. The area is named after Charles and Joel Wicker who in 1870 developed the neighborhood surrounding the park bearing their name.

Residents use public transportation options like the CTA Blue Line Station and the #9 Ashland bus, the #56 Milwaukee bus and the #70 Division bus. The Division Blue Line station extends out from Chicago to O’Hare airport and is located a short walk away from the subject property.

An area of exceptional artistry and character, the Wicker Park neighborhood has emerged from an artist’s haven into one of the most desirable places to live in Chicago. Today, the neighborhood is best known for its numerous commercial and entertainment establishments, as well as being a convenient place to live for downtown workers due to its proximity to public transportation and the Loop.

HIGHLIGHTS
  • Steps to Bustling Division St. and Milwaukee Ave.
  • Extensive List of Capital Improvements
  • Attractive Unit Mix – (2) 1 Bd/1 Ba, (4) 2 Bd/1 Ba & (2) 2 Bd/2 Ba
  • Four (4) Garage Spaces with Large Common Rooftop Deck Above
  • Steps to Division CTA Blue Line Station
LISTING BROKERS
Abe Eilian
Director
773.305.4882
Brian Keegan
Associate
773.305.4866