Essex Realty Group, Inc. is pleased to present 1342-44 West Ohio Street, a six-unit apartment building and adjacent 24’ x 126’ foot lot located in the West Town neighborhood of Chicago. The property has been under the same ownership for over 100 years and has been well-maintained during its ownership.
The building’s unit mix consists of five (5) one-bedroom plus den layouts, and one (1) one-bedroom layouts. The apartments feature hardwood flooring throughout with vintage kitchens and bathrooms. Every apartment unit provides an investor the opportunity to renovate them to include brand new kitchens, bathrooms, mechanicals, HVAC and laundry in-unit.
The adjacent vacant parcel is approx. 24’ by 126’ and zoned RS-3. Under the current zoning, a developer can build a detached single family home. Nearby there are numerous lots that have been up-zoned to RM-4.5/RM-5.
This pocket of West Town is extremely low-density and is considered a top rental market in Chicago. The property benefits from the neighborhoods low vacancy rates, rising rents, close proximity to public transportation, nightlife and schools. An investor or owner user has the rare opportunity to purchase a six flat and adjacent parcel ready for renovation/development.
The West Town neighborhood of Chicago is located a few miles west of Chicago’s Loop and offers views of Chicago’s skyline from most parts of the neighborhood. West Town benefits by being comprised of several neighborhoods whose residents have all brought a rich history to. Neighborhoods within West Town include: East Village, Eckhart Park, portions of Humboldt Park, Noble Square, portions of River West, Smith Park, Ukrainian Village and Wicker Park.
Today, West Town is rapidly changing and becoming one of Chicago’s most desirable neighborhoods, offering an array of colorful galleries and museums, independent theaters, quaint coffee shops, and a booming restaurant and nightlife scene. Located north of Ohio Street and east of Noble Street, 1342-44 W Ohio St sits in the heart of West Town, just blocks from the neighborhood’s popular Chicago Avenue, as well as in close proximity to several public transportation options.
*Neighborhood information from https://www.westtownchicago.com/
- Vintage Six Flat with Adjacent Parcel
- Two Separate Pins
- Long Term Owner
- Located in the Heart of West Town
- Parcel Zoned RS-3, Numerous Up-Zoned Lots in Surrounding Area
- Walking Distance to Noble Square, Fulton Market District and West Loop