Essex Realty Group, LLC has been exclusively engaged to market for sale 1620 W. Grand Ave., a newly constructed eight-unit luxury multifamily asset located near Chicago’s Fulton Market District and West Loop. The property offers investors the opportunity to acquire a boutique, condominium-quality building in one of the city’s most dynamic and supply-constrained rental corridors, with immediate access to premier dining, retail, nightlife, and major employment hubs.
Completed as a ground-up development, the property features eight expansive residences with a highly differentiated unit mix: four three-bedroom/two-bathroom simplexes, two three-bedroom/two-bathroom penthouses with private rooftop decks, and two four-bedroom/three-bathroom duplex-down units. All six three-bedroom units feature private elevator access directly into the residence, delivering a level of privacy and exclusivity rarely found in Chicago’s rental market. The property also includes eight garage parking spaces, a highly sought-after amenity that further enhances tenant appeal and revenue potential.
The asset has demonstrated strong leasing velocity during initial occupancy with minimal concessions, underscoring demand for larger-format luxury rentals in this supply-constrained submarket. With best-in-class construction, a rare unit mix (75% three-bedroom / 25% four-bedroom), and proximity to Chicago’s fastest-growing neighborhoods, 1620 W. Grand Ave. presents a compelling opportunity for investors seeking immediate income, durable renter demand, and long-term upside.
West Town, situated just 2–3 miles northwest of Chicago’s Loop, is a vibrant and rapidly evolving neighborhood that seamlessly blends historic charm with modern innovation. Known for its artistic spirit and entrepreneurial energy, the area boasts a diverse mix of architecturally rich buildings, creative institutions like the Ukrainian Institute of Modern Art, and a thriving cultural scene. Division Street, Chicago Avenue, and Grand Avenue serve as bustling corridors filled with chef-driven restaurants, boutique shops, and dynamic entertainment venues like the Empty Bottle.
Accessibility is a key advantage, with convenient CTA Blue Line stations and multiple bus routes connecting West Town to downtown and beyond, alongside major thoroughfares like the Kennedy Expressway and Ashland Avenue. The neighborhood benefits from ongoing development, including mixed-use high-rises that continue to draw commercial activity and increase walkability. This combination of central location, creative energy, and sustained investment solidifies West Town’s reputation as one of Chicago’s most desirable and forward-thinking communities.
- Luxury 3 Bd/2 Ba & 4 Bd/3 Ba Units
- Private Elevator Access Directly into Residences
- Eight (8) Garage Parking Spaces
- Close Proximity to Fulton Market & West Loop
- Fast Initial Lease-Up with Minimal Concessions