Essex Realty Group, Inc. has been exclusively engaged to market for sale 1513 W. Erie St., a recently gut renovated legal 3-unit apartment building in Noble Square. The finishes and unit design are well-suited to compete with top-of-the-market rents – in addition to offering investors a “practically new construction” and low-maintenance asset in a budding area of West Town.
The Subject Property consists of three (3) 3 Bed/1 Bath gut renovated units. Each unit features luxury hardwood floors, quartz countertops, a kitchen island, stainless steel appliances, central heat and air conditioning, a private deck in the rear and in-unit laundry. The property also includes a two (2) car garage and large shared patio in the rear. Further, all of the siding, roof, windows, porches, plumbing, heating/cooling, and electrical service and wiring are brand new to the property.
The West Town community is centrally located and has undergone a rapid transformation into one of the city’s most desirable places to live – offering residents an array of colorful galleries and museums, independent theaters, quaint coffee shops, and a vibrant restaurant and nightlife scene. For transportation – The Division St. Blue Line CTA station is only a couple of blocks away, and nearby Ashland and Grand Avenues provide a variety of CTA bus options. The property also benefits from its close proximity to the West Loop – a known commercial hub within Chicago and home to companies such as Google, Twitter, LinkedIn and McDonald’s, all of which bring high-paying jobs to the area.
Noble Square, part of Chicago’s greater West Town community, is nestled in between Chicago’s popular East Village and West Loop enclaves. Collectively, West Town’s neighborhoods are known for their historic architecture, including the 103-year-old Chopin Theatre and the former Goldblatt’s Department Store building, now home to a Chicago Public Library.
The West Town community has undergone a rapid transformation into one of the city’s most desirable places to live, offering residents an array of colorful galleries and museums, independent theaters, quaint coffee shops, and a booming restaurant and nightlife options. Multiple Michelin Star restaurants are in the immediate vicinity of the property including Temporis and Schwa. Other beloved restaurants like Beatnik, Porto, Funkenhausen, and Mott Street are also within close walking distance. The nearby Chicago Ave. and Division St. commercial corridors provide access to an abundance of restaurants, bars, and local shops.
West Town also benefits from easy access to public transportation and close proximity to Chicago’s central business district. The Division St. Blue Line CTA station is only a couple of blocks away, and nearby Ashland and Grand Avenues provide a variety of CTA bus options. Commuters also benefit from quick access to the highway via Augusta Ave. and Division St.
- New Construction Like Property
- All New Roof, Windows, Siding, Mechanicals, and Electrical
- Great for First-Time Operator/Owner or Investor
- Property Includes a Two (2) Car Garage
- Walking Distance to Ashland CTA Green & Pink Line, as well as Chicago CTA Blue Line
- Above Market Cap Rate