Essex Three Twelve is pleased to announce the sale of 1037 West Polk Street, a 6-unit Greystone apartment building located in the heart of Little Italy. This property has been in the same family for more than 70 years, providing investors with the opportunity to acquire a rarely available asset in one of Chicago’s oldest and most established neighborhoods.

The property is comprised of one 1 bed, two 2 beds, two 3 beds, and one 4 bed layout. Each unit features hardwood floors, stainless steel or white kitchen appliances, laminate countertops, central HVAC, in-unit laundry, and the rear units have access to outdoor decks. One unit was recently renovated and includes elevated finishes in the kitchen. The opportunity existed for an investor to increase rents significantly with cosmetic updates to the kitchens and baths in the remaining five apartments. Also, the large laundry room in the rear units presented an opportunity to make a second full bathroom.

Essex conducted a successful marketing campaign consisting of several tours & offers.

Little Italy is a robustly diverse neighborhood situated roughly 2.5 miles west of Chicago’s Loop. The neighborhood is a part of the larger University Village/Little Italy area, known for its historic significance, quiet environment, and continued growth over the past several years.

The property is situated less than two blocks from the University of Illinois Chicago, and just over a mile from the Illinois Medical District, which encompasses Rush University Medical Center & Cook County Hospital. As a whole, the Illinois Medical District has over 2,700 medical students, more than 20,000 employees and nearly 30,000 undergraduate students across the three institutions.

1037 West Polk is ideally located in the heart of Little Italy, just one block to Taylor Street, the main retail corridor that is home to many local cafes, retailers, and restaurants including some of Chicago’s most well-known Italian restaurants. Additionally, residents are less than a mile to both the UIC-Halsted & Polk CTA stations servicing the Pink & Blue Lines, and less than two miles to both Ogilvie & Union Station Transportation Centers.

• A+ Little Italy Location; Surrounded by UIC and Rush Medical District
• Property Owned by the Same Family for More than 3 Generations
• Extremely Well-Maintained Building with Light Value-Add Upside
• Apartment Layouts Well-Suited for Nearby Students