Essex Realty Group, LLC has been exclusively engaged to market for sale 2525 N. Orchard St., a turn-key 6-unit apartment building located in Chicago’s highly desirable and rarely available Lincoln Park neighborhood. This remarkable property was recently renovated and boasts bright, sun-filled units with generous floorplans, including separate living and dining areas. Some units feature large, enclosed sunrooms offering tenants additional space and generous light, while the standout top-floor unit offers a rare find—a 3-bedroom, 2-bathroom layout with the spacious feel of a single-family home. Along with 2530 N. Orchard St., this is an incredible chance to secure two prime pieces of Lincoln Park real estate.
RENOVATION IN 2022
The property underwent significant renovations in 2022, including the addition of two new apartments, all-new electrical systems, and partial plumbing upgrades. These updates introduced modern finishes to all units, such as stainless steel appliances, quartz countertops, hardwood floors, in-unit laundry, individual hot water heaters, and HVAC systems.
SPACIOUS APARTMENTS
The building offers a well-balanced unit mix of one-, two-, and three-bedroom apartments.
LOCATION
2525 N. Orchard St. is located in the heart of Lincoln Park, adjacent to DePaul University, and less than 0.5 miles from the Fullerton CTA Train Station (Red, Brown, and Purple lines) and 0.8 miles from Lake Michigan. The property is within walking distance of Diversey Parkway and Halsted Street’s commercial areas and 1.5 miles from Wrigley Field, offering tenants easy access to Cubs games and Wrigleyville nightlife.
ASSUMABLE DEBT AVAILABLE
This property includes an assumable loan currently interest only with the following terms:
Current Balance: $2,000,000
Interest Rate: 5.73% fixed
Amortization Start Date: September 1, 2025
Maturity Date: September 1, 2028
This loan offers potential buyers a compelling financing option with the possibility of above-average cash returns at below-market interest rates.
ADDITIONAL PROPERTY FOR SALE
The seller is also offering 2530 N. Orchard St., located just steps away, presenting investors with the opportunity to acquire two turn-key assets in a prime neighborhood.
Chicago’s Lincoln Park neighborhood is one of the best known and most historically significant areas in the city. Located 3.15 miles north of the Loop with Lake Michigan to the east and the Chicago River to the west, Lincoln Park has experienced significant growth over the last few decades. Its proximity to the City’s central business district combined with convenient access to public transportation and lakefront has led to substantial residential and retail growth, transforming the community into one of Chicago’s most desired areas in which to live.
Lincoln Park boasts several attractions including the Lincoln Park Zoo, the Chicago History Museum, and most notably, Lincoln Park, Chicago’s largest public park. Magnificent architecture, charming boutiques, and a vibrant restaurant and bar scene appeal to residents, students and tourists alike. DePaul University is located in the heart of Lincoln Park and boasts a population of over 25,000 students. The university’s presence coupled with Lincoln Park’s appeal to younger residents creates substantial demand for rental housing in the area.
- Building Significantly Renovated in 2022 Including Wiring, Partial Plumbing & More
- Six Units in Prime Lincoln Park Location Consisting of Desirable 1-, 2- & 3-Bedroom Layouts
- Apartments Feature Hardwood Floors, Stainless Steel Appliances, Quartz Counters, Individual HVAC & In-Unit Laundry
- Two Units Added in 2022 with Full Plans & Permits
- Close Proximity to Fullerton "L" Station, DePaul University & Beautiful Lake Michigan
- Walking Distance to Diversey Parkway & Halsted Street's Commercial Areas
- Attractive Assumable Debt Available; Please Inquire with Your Essex Broker