Essex Realty Group, Inc. has been exclusively engaged to market for sale 1940-1942 W. Addison St. (“the property”), a rarely available center entrance six-flat located in the heart of Chicago’s desirable Roscoe Village neighborhood. The Property is ideally located 0.12 miles west of the Addison CTA Brown Line station, steps from numerous CTA bus routes, restaurants, and bars. The property is also less than a mile from historic Wrigley Field and surrounding new developments.
1940-1942 W. Addison St. is comprised of six (6) 2Bd/1Ba units and a 6-car parking pad. The building is equipped with 200-amp electric service, individual in-unit furnaces, central air, individual hot water heaters and storage tanks, and coin-operated laundry. All six units have spacious layouts with separate kitchen and dining rooms, decorative fireplaces, hardwood floors, private patio space, and varying levels of kitchen and bath finishes.
The Property presents investors with multiple value-add strategies. Of the six units, three were recently updated with stainless steel appliances, modern cabinetry, granite countertops, and renovated bathrooms. Additionally, each unit features a spacious pantry that can be used for in-unit laundry. A new owner has a proven strategy for updating the remaining units and raising rents to capture significant rental upside. Investors also have the opportunity to bring rents to market over time with little to no materials upgrades. See pages 33-34 for a detailed rent survey.
- Rarely available center entrance six-flat located in Chicago's desirable Roscoe Village neighborhood
- Unit mix: six (6) 2Bd/1Ba units with separate living and dining rooms + a 6-car parking pad
- Located 0.12 miles west of the Addison CTA Brown Line station, steps from numerous CTA bus routes
- Less than one mile from historic Wrigley Field and surrounding new developments, restaurants, and bars
- 3 of 6 units have been updated with stainless steel appliances, modern cabinetry, granite counters, and new baths
- Proven strategy for updating the remaining 3 units and raising rents to capture significant rental upside