Essex Realty Group, Inc. is pleased to exclusively present 4940-4942 N. Sheridan Rd., a mixed-use investment opportunity featuring eight (8) apartments and 8,723 SF of commercial space, ideally located in the heart of Chicago’s vibrant Uptown neighborhood.

The property boasts a substantial 8,723-square-foot commercial space with impressive 17-foot ceiling heights, a 5,550-square-foot mezzanine level, and an additional 3,315 square feet of basement space. Complementing this is a diverse unit mix of apartments, including four (4) 3 Bed/1.5 Bath units, one (1) 3 Bed/2 Bath unit, two (2) 4 Bed/2 Bath units, and one (1) nonconforming 2 Bed/1 Bath unit. The apartments feature a blend of standard and updated finishes, with many offering hardwood floors, central heating and air conditioning, and in-unit laundry — presenting a strong foundation for rent increases through targeted cosmetic upgrades.

With its expansive retail space, the property offers exceptional versatility. The commercial area is primed for buildout or reconfiguration, allowing new ownership to activate the space and cater to a variety of tenant needs, from retail to office or service-based uses. Current rental surveys (see page 24 of the Offering Memorandum) demonstrate strong potential for income growth across both residential and commercial components.

This asset represents an outstanding opportunity for investors seeking a value-add strategy in a high-traffic, high-visibility location. The combination of strong existing cash flow, untapped retail potential, and opportunities for unit enhancements make 4940-4942 N. Sheridan Rd. an attractive addition to any investor’s portfolio.

Uptown, nestled along Lake Michigan, was originally a posh resort area, providing a serene escape from bustling city life. It quickly became a favorite spot for Chicago’s silent film era celebrities, evident in its rich cultural and entertainment scene. Landmarks like the Aragon Ballroom, Riviera Theater, Uptown Theater, and Green Mill Jazz Club remain iconic and frequently visited.

Only about six miles north of Chicago’s Central Business District, Uptown offers a charming community with tree-lined streets, all while being conveniently close to downtown. It’s situated just north of Lakeview and east of Ravenswood, allowing residents to savor the best of these neighborhoods.

Uptown is primarily residential, featuring six-flats, single-family homes, and courtyard apartment buildings. With Montrose Harbor and the Beach nearby, residents have easy access to the lake and park.

• 8,723 Square Feet of Raw Retail Space, Customizable to Fit the Needs of a Single Tenant or Multiple Tenants.
• Modern, Well-Maintained Apartments Featuring In-Unit Laundry, Central Heating, and Air Conditioning.
• The Property Features Large, Desirable Units Consisting Of One (1) 2 Bed/1 Bath Non-Conforming Unit, Four (4) 3 Bed/1.5 Bath Units, One (1) 3 Bed/2 Bath Unit, And Two (2) 4 Bed/2 Bath Units.
• Multiple Opportunities to Add Value and Boost Income
• Located Less Than Half a Mile from the Argyle Red/Purple Line Station.