Essex Realty Group, Inc. has been engaged to exclusively market for sale 2646 W. Thomas St. The subject property is a 2-unit brick walk-up building located in the Humboldt Park neighborhood of Chicago. The unit mix consists of one (1) 2 Bed / 1 Bath layout and one (1) 3 Bed / 1 Bath layout.
The apartments are extremely spacious with separate living rooms, front sun-rooms, and formal dining rooms. There are individual gas forced furnaces and hot water heaters that are separately metered. The electric has been recently replaced/rewired and is also separately metered. There is a recently rebuilt two car garage located at the rear of the property that can be accessed via alley. An investor has the opportunity to capitalize on the current rental market by adding value to the units and increasing rents. This is a rare opportunity for an investor or owner user to acquire a 2-unit building in one of Chicago’s hottest up and coming neighborhoods.
Humboldt Park was listed by RedFin in 2014 as one of the top ten neighborhoods in the country with the median home sales price up 62% year over year. The growing attention to this neighborhood can be attributed to the steady rise in property values, development activity in the neighborhood, and surrounding areas such as Logan Square, West Town, and Wicker Park.
Humboldt Park houses a surprising array of retail, dining, and nightlife options. Popular nightlife and dining spots include Haywood Tavern, Rootstock Wine & Beer Bar, California Clipper, and Archie’s.
The subject property is located just a mile south of the 606/Bloomingdale Trail. The 606 Trail is a 2.7-mile-long path that runs from 1801 North Ridgeway Avenue in Humboldt Park to 1722 North Ashland Avenue in Bucktown. The $95 million project was completed in May of 2015 and had received wide support from several public and private organizations. The trail has been a crucial point toward gentrification of the west side neighborhoods and will continue to spur growth and development in Humboldt Park.
Bus lines that are easily accessible to the subject property include the #52 California bus and the #70 Division bus allowing residents an easy commute throughout the Chicago land area.
- Phenomenal Humboldt Park Location
- Rare Opportunity for Investor/Owner User
- Current Rents Average $100/Month Below Market
- Separately Metered Heat, Hot Water, & Electric
- Extremely Motivated Seller