Essex Realty Group, Inc. has been exclusively engaged to market for sale 1414 W. Pratt Blvd., a 45-unit apartment building located in Chicago’s Rogers Park neighborhood. The building consists of 1 studio, 39 one bedroom/one bathroom and 5 two bedroom/one bathroom apartments.

The vintage units feature white kitchen appliances, laminate countertops, radiator heat, and some with hardwood floors. The apartment rents are materially below market. For example, the one-bedroom units average $968, while the market rents for competing units are $1,200.

1414 W. Pratt Blvd. is conveniently situated 0.2 miles from the Morse Red Line CTA station, 0.5 miles from Lake Michigan, and 0.7 miles from the Rogers Park UP-N Metra Station.

Rogers Park is Chicago’s northern-most lakefront neighborhood. Spanning from Devon Avenue to Howard Street, Rogers Park is home to more than 55,000 residents, 72% of whom are renters. In addition, Rogers Park has virtually no new market rate housing developments in its pipeline, unlike Chicago’s other lakefront neighborhoods, adding a layer of protection to apartment investors.

• 45-Unit Vintage Apartment Building
• Unit Mix: (1) Studio, (39) 1Bd/1Ba, (5) 2Bd/1Ba
• 1Bd/1Ba Average $968/mo. - Well Below Market
• Located Just Two Blocks from the Morse CTA Red Line Station and Half a Mile from Lake Michigan