Essex Realty Group, Inc. has been exclusively engaged to market for sale 3507-3509 N. Wilton Ave., an 8-unit center entrance apartment building located in Chicago’s Lakeview neighborhood.
3507-3509 N. Wilton Ave. consists of 7 three bedroom/two bathroom and 1 two bedroom/two bathroom apartments. The Property was gut renovated in 2013 with high-end finishes including quartz countertops, tile backsplashes, stainless steel appliances and contemporary white hardwood kitchen cabinets. Each unit includes washer/dryer in-unit, individual hot water heaters and HVAC, and hardwood floors throughout.
The Property has eight outdoor parking spaces, located one block from Wrigley Field. Through a combination of SpotHero income and monthly rentals, parking revenue in 2023 reached over $48,000.
The current loan is available for assumption and would provide a new buyer with outsized cash flow and returns. A new investor may elect to assume the Fannie Mae, interest-only loan maturing 10/29 at 3.85% interest. Doing so would give a new buyer a cash-on-cash return of approximately 7.97%.
3507-3509 N. Wilton Ave. is located just steps from Wrigley Field and the Addison Red Line CTA Station.
Lakeview is one of the most prominent neighborhoods in Chicago, located 6 miles north of the Loop and bordering Lake Michigan. Its proximity to the City’s central business district combined with convenient access to public transportation has led to substantial residential and retail growth, which have been the driving forces in transforming the neighborhood into one of the foremost places to live in Chicago. Home to the Chicago Cubs and Wrigley Field, the country’s second oldest ballpark, the neighborhood is filled with restaurants, boutiques and small businesses.
3507-3509 N. Wilton Ave. conveniently located 1 block from Wrigley Field and the Addison Red Line CTA Station, and less than 1 mile from Lake Michigan.
- 8-Unit Center Entrance in Lakeview
- Conveniently Located Steps from Wrigley Field & Addison CTA Red Line
- Assumable Debt Available at 3.85% Maturing 10/29
- Cash-On-Cash Return of 7.97%