Essex Realty Group, INC. is pleased to present 1646 N. Artesian Ave., a six-unit, walk-up apartment building located in the West Bucktown neighborhood of Chicago. The property has been under the same ownership for over 23 years and offers a new owner tremendous opportunity for income growth through moderate renovation.
This property features an enticing unit mix, comprising three 2 Bed / 1 Bath layouts, one 2 Bed / 1.5 Bath floorplan, and one spacious 3 Bed / 2 Bath duplex layout. Each apartment is appointed with hardwood floors and moderately furnished kitchens and bathrooms. A gated yard at the rear of the property offers potential parking spaces to residents and additional income potential. All the units have individual gas-forced furnaces, separate hot water tanks, and individual electric panels. Plumbing consists of a mix of galvanized and copper.
Investors will find this opportunity particularly enticing, as this is truly a value-add opportunity. The current rents are significantly below market and are all leased on an M-M basis. Additionally, there is a redevelopment opportunity as this building is located in an incredible pocket that features primarily new construction, single-family homes that are rapidly appreciating.
The current ownership is committed to the sale and is encouraging all offers.
Experience the enchantment of West Bucktown, a distinctive Chicago neighborhood that seamlessly blends urban vibrancy with a close-knit community feel. Situated just a stone’s throw away from downtown, West Bucktown offers the perfect balance of city accessibility and serene living. Wander along tree-lined streets adorned with captivating murals, delve into a myriad of art galleries and boutiques, and savor the diverse culinary scene that defines the neighborhood’s unique character.
West Bucktown’s architectural diversity ranges from timeless brownstones to contemporary lofts, embodying the neighborhood’s historical roots and modern charm. Green spaces like Holstein Park provide a haven for outdoor enthusiasts, while the spirited nightlife ensures that the excitement continues long after dusk. With its welcoming community atmosphere, creative essence, and convenient proximity to all of Chicago’s offerings, West Bucktown stands as an exceptional destination for those in search of an authentic urban experience intertwined with a strong sense of community.
- West Bucktown Location
- 6-Unit Walk-Up Apartment Building
- Value Add Opportunity – Rehab or Redevelopment
- 2 Bed / 1 Bath, 2 Bed / 1.5 Bath, & 3 Bed / 2 Bath Duplex Layouts
- Phenomenal Rental Pocket with Neighboring Luxury Homes
- Owner Says Bring All Offers!