Essex Realty Group, Inc. is proud to exclusively market for sale 3052 N. Seminary Avenue. The Subject Property consists of five (5) units divided between a brick, three-flat, and a two-unit frame coach house. The three-flat contains three (3) 2Bd/Ba apartments while the coach house has one (1) 2Bd/1Ba unit, and one (1) 4Bd/2Ba duplex-up unit.
Although the finishes vary among the units, each one has been well maintained. However, as the enclosed rental survey indicates, current apartment rents are below market and a new owner could increase rents with cosmetic upgrades. For example, 2Bd/1Ba units at the Property average $1,872/mo. Nearby, competing apartments achieve more than $2,200/mo. for similar units. Similarly, recently renovated 2Bd/1Ba apartments achieve rents of $200-300/mo. greater than current rents.
3052 N. Seminary Avenue is well located two blocks from the CTA Belmont Red/Purple/Brown Line Station that provides direct access to Chicago’s downtown. In addition, public transportation is easily accessible via bus routes along Belmont Avenue.
The Subject Property is centrally located on Chicago’s northside and is located less than one mile from Wrigley Field, home of the 2016 World Series Champion Chicago Cubs. The neighborhood provides proximity to many dining and nightlife options. Two miles to the east is Diversey Harbor, which offers attractions such as the Diversey driving range, the Lakefront and many other recreational activities that are available in Lincoln Park. Lincoln Park offers attractions such as the Lincoln Park Zoo, the Peggy Notebaert Nature Museum, and the Lincoln Park Conservatory to name a few. Likewise, DePaul University, located one and one half mile to the south is home to more than 25,000 students. Many DePaul students seek rental housing in the immediate vicinity, further driving demand in this extremely sought after location.