1618-20 N. Tripp Ave. Chicago, IL 60639

Essex Realty Group, Inc. is pleased to present 1618-20 N. Tripp Ave., a twelve-unit L-shaped walk-up apartment building near the corner of Tripp Ave. and North Ave. in the Hermosa neighborhood of Chicago. This offering includes a separate adjacent parcel which is currently used for tenant parking.

The building's unit mix consists of six (6) one-bedroom / one-bath, five (5) two-bedroom / one-bath, and one (1) three-bed / one-bath apartments. Most operators would easily convert the two (2) two-bedroom layouts in the 1620 East tier into three-bedroom apartments by simply utilizing the formal dining room as the extra bedroom. The building also contains two (2) non-conforming one-bedroom / one-bathroom garden apartments that currently generate additional income. Seven of the twelve above grade apartments have been recently remodeled with high-end finishes and five of the layouts include standard rental finishes. Remodeled apartments feature refinished hardwood floors, stone countertops, stainless appliances, and quality cabinetry.

Notable improvements to the building include individual gas forced furnaces, separately metered electric, a new hot water tank, regular roof maintenance, and a mix of copper & galvanized plumbing. Tenants have access to laundry in the basement of the building; both machines are coin-operated and building owned. Additionally, the separate parcel offers thirteen (13) surface parking spaces that can provide significant additional income.

An investor has the extremely rare opportunity to acquire a well performing asset in an area of Chicago that has seen tremendous growth and development. A new buyer can capitalize on this great investment offering by dramatically increasing the cash flow via multiple investment strategies. These scenarios include operating the deal as-is and raising rents to market level, converting two of the layouts to add an additional bedroom, remodeling kitchens and bathrooms in the five original apartments, and charging tenants for parking in the 13-space adjacent lot.


Neighborhood life in Hermosa is anchored by Hermosa Park on North Kilbourn Avenue near the northern edge of the community. Residents frequent the tennis courts, jogging paths, walking trails, and the park’s fieldhouse which hosts various recreational activities. The majority of Hermosa's population resides along quiet, tree-lined streets that primarily consist of single-family homes. Hermosa's housing market extends to the busier main streets where vintage lofts and apartments are situated above commercial businesses. Residents enjoy popular dining & entertainment attractions in its neighboring community of Logan Square, located only a few blocks east.

The property is located on the west side of Tripp Avenue in Chicago’s Hermosa neighborhood. 1618-20 N. Tripp Ave. is just a short walk from North Avenue, a street full of local restaurants, bars & shopping options. The property is conveniently located just ¾ mile east of the Grand/Cicero Metra Station, servicing the Milwaukee District / West Line. Along with multiple bus stops and Divvy Stations, this provides tenants with great public transportation options.

  • 12-Unit Multifamily Property in the Hermosa Neighborhood of Chicago
  • Building Includes Two (2) Non-Conforming Gardens Which Provide Additional Income
  • Includes Separate Parceled Lot with 13 Parking Spaces
  • Attractive Unit Mix Including One, Two, and Three-Bedroom Apartments
  • All Units Have Separate Gas Forced Air Furnaces
  • Opportunity to Add Value Via Updating Remaining Units or Converting Apartments
Jacob Goldstein
Steven Livaditis