ON MARKET – MULTI-FAMILY
1550 North Wieland Street Chicago, IL 60610
PRICE
Please Call For Sale Price
NUMBER OF UNITS
61
CAP RATE
5.72%
PROPERTY LISTED

Essex Realty Group, Inc. is pleased to announce the sale of The Northland Apartments located at 1550 North Wieland St. in Chicago’s Old Town neighborhood. Completed in 2018, The Northland is a luxury boutique building comprised of 60 apartments and one restaurant, Two Lights Seafood & Oyster. Essex secured an out of state buyer for this property after a highly competitive marketing process resulting in multiple offers.

LOCATION DETAILS

The Northland presents the rare opportunity to acquire a large luxury new construction apartment building in the heart of Old Town. The units feature gorgeous high end finishes, laundry in-unit, and unique details that please a modern renter including strategic USB outlets, in unit Sonos speakers, and Nest Thermostats, plus a Butterfly MX Smart Intercom at the property entry door. Additionally, The Northland features a beautiful rooftop deck with grilling stations and sweeping views of Chicago’s entire skyline and the beautiful lakefront. The rooftop deck is also home to a fenced dog run and play area with turf. The property features 60 apartments and 2,150 SF of restaurant space occupied by Two Lights Seafood & Oyster Co. the second Chicago restaurant project from the owners of Tortoise Supper Club in River North. Two Lights Seafood & Oyster Co. opened in June 2018 and operates on a 10 year NNN lease with renewal options.

Great central location nestled between Lincoln Park & Gold Coast/River North and just 3 blocks west of Chicago’s lakefront park Lincoln Park. Plus The Northland is just three minutes walking distance to the Sedgwick CTA station servicing the Brown & Purple lines.

HIGHLIGHTS
  • Under Contract After 38 Days on the Market
  • Multiple Offers
  • 61 Unit New Construction Property in the Heart of Old Town
  • High End & High Tech Apartment Units - In-Unit Laundry, Sonos Speakers, USB Outlets, Nest Thermostats Plus Trendy Light Fixtures
  • Prime Location in the Heart of Old Town and just 3 Minutes Walking Distance to the Sedgwick CTA Station
  • Rooftop Deck with Grilling Stations, Sweeping Skyline Views & a Dog Run
  • 3 Blocks from Lincoln Park and the Beautiful Lakefront
  • 2,150 SF of Leased Restaurant Space - Lease Year 1 of 10 for Restaurant Space
  • Property Video: https://youtu.be/QwnaVl6rK8M
  • Property Website: http://thenorthlandbuilding.com/
LISTING BROKERS
Jim Darrow
Principal
773.305.4920
Jordan Gottlieb
Principal
773.305.4922