Essex Realty Group, Inc. has been exclusively engaged to market for sale 3450 West Waveland Avenue, a five-unit apartment building located in Chicago’s vibrant Old Irving Park Neighborhood. The property sits on a wide 29′ x 125′ lot and includes a two car garage. The unit mix is comprised of three 2 bed/1 bath apartments, one 1 bed/1 bath apartments and one large duplex 2 bed/2 bath apartment. Each apartment was completely renovated in 2017 to include brand new designer kitchens with quartz counter tops, new sleek cabinetry and new bathrooms. All apartments feature separated HVAC and dishwashers. Common laundry for the property. An opportunity exists for an investor to raise the rents to market rates or to install laundry in each unit to further raise rents to the height of current market rates.
The property is located on the northeast corner of Waveland Avenue and St. Louis Ave, only three blocks away from Elston Avenue, a popular street overflowing with local bars and restaurants. The property is two blocks from the Athletic Field Park, a large Chicago Park District Park in Old Irving Park. The property is two blocks from the Addison Blue Line Station, the Addison exit to the Kennedy Expressway and in close proximity to numerous bus stops.
Old Irving Park features the conveniences of city living combined with the residential charm of the suburbs. The neighborhood was
originally transformed from farmland to an exclusive suburb after The Great Chicago Fire sent residents fleeing from the City. Four New York investors purchased farmland stretching from Addison to Montrose and Pulaski to the Milwaukee Railway in the late 1800s and those boundaries still form the border of the today’s Old Irving Park. An agreement between the railroad company and the investors to add a stop in exchange for their development of a station solidified the potential of the land.
The property is located on the northeast corner of Waveland Avenue and St. Louis Ave, only three blocks away from Elston Avenue, a popular street overflowing with local bars and restaurants. The property is two blocks from the Athletic Field Park, a large Chicago Park District Park in Old Irving Park. The property is two blocks from the Addison Blue Line Station, the Addison exit to the Kennedy Expressway and in close proximity to numerous bus stops,
- Sun Drenched Corner Property
- Well Maintained By Long Term Professional Management
- Significantly Rental Upside
- Current Average Rent is $1,305 In A Fully Renovated Property
- Two Blocks Away From Addison Blue Line Station
- Property Fully Renovated in 2017