Essex Realty Group, Inc. is pleased to exclusively offer for sale 1547 W. Walton St. (“the Property”), a legal 4-unit apartment building located on the border of Noble Square and Ukrainian Village in West Town. The Property is situated steps from multiple CTA bus stops, 0.3 miles from the Division Street Blue Line CTA station, and 0.2 miles from the thriving restaurant and bar scene along Chicago Avenue.
1547 W. Walton St. is comprised of three (3) 3Bd/2Ba apartments and one (1) 2Bd/2Ba garden apartment. The building systems include 200 amp electric service to each apartment, copper plumbing, and a brand new roof with a transferable warranty. Each unit is equipped with individual HVAC, individual hot water tanks, stackable in-unit laundry, hardwood floors, fireplaces, and kitchens with granite countertops, tile backsplashes, and built-in wine racks. Three of the four units also have stainless steel appliances, storage units, and assigned exterior parking spaces.
The Property presents investors and owner-occupants with the opportunity to acquire a 100% occupied, renovated property in the desirable community of West Town. There are also multiple strategies to increase income over time. For example, three bedroom layouts at the property are renting for an average of $2,233/month, while comparable nearby units are renting for $2,600/month. Other opportunities to increase income include charging for the tandem parking spaces and storage units that are currently included in the rent for three of the four units.
- Renovated legal 4-flat with 100% occupancy in the desirable community of West Town
- Strong unit mix: (3) 3Bd/2Ba, (1) 2Bd/2Ba, and (6) tandem parking spaces
- Substantial rental upside: Current rents are 10-15% below market on average
- Units include granite countertops, S/S or white appliances, individual HVAC, gas fireplaces, and in-unit W/D
- Building systems include 200 amp electric service, copper plumbing, and a brand new roof with a transferable warranty
- Located steps from multiple CTA bus stops and 0.3 miles from the Division CTA Blue Line Station
- Less than 0.25 miles from the vibrant restaurant and bar scene along Chicago Avenue