Essex Realty Group, Inc. is pleased to announce the sale of 5355 N. Damen Ave., an 11-unit corner apartment building located in the Bowmanville neighborhood on Chicago’s North Side. Residents of Bowmanville enjoy the safety and quiet of a residential neighborhood while having just a short walk to the busy retail corridors of Andersonville and Lincoln Square.
The property is comprised of eleven (11) total units: eight (8) one bedroom/one bath units and three (3) two bedroom/one bath duplex units. The building received significant renovations in the late 2000’s including all new copper plumbing, new electrical wiring throughout, increased electrical service, and cosmetic improvements to the units. All but one of the apartments feature granite or quartz countertops, stainless steel appliances, and recently upgraded bathrooms. All apartments have gas forced heat and air conditioning, as well as outdoor space. Two separate laundry rooms with two washers and two dryers (owned) each produce additional revenue. Each unit has additional private storage in the basement.
5355 N. Damen Ave. is surrounded by public transportation, situated seven (7) blocks from the Damen Brown Line “L” station, eight (8) blocks from the Ravenswood Metra station, and within four (4) blocks from numerous bus routes along Ashland Ave., Foster Ave., and Western Ave.
5355 N. Damen Ave. is conveniently situated in the heart of the Bowmanville neighborhood on Chicago’s North Side. Bowmanville’s reputation as a quiet residential pocket is well-earned. Chicagoans looking for a peaceful, suburban-like culture within the city cannot find a better place to call home. Bowmanville is tucked away between the affluent and better known neighborhoods of Andersonville and Lincoln Square. Tenants have just a four block walk to the heart of Andersonville and eight blocks from the heart of Lincoln square. These neighborhoods are home to a remarkable number of boutique shops and trendy restaurants along Clark St. and Lincoln Ave.
The Ravenswood Metra stop is located just a mile south of the subject property. Located at the intersection of Lawrence and Ravenswood, this Metra stop grants commuters fast and affordable access from Chicago’s Business District to Wisconsin. Nearby is also the CTA Brown line stop which can be accessed near the intersection of Damen & Leland. The Brown line stop allows commuters direct access to The Loop in under a half hours’ time. Additionally, about a mile east of the subject property is the Berwyn CTA Red Line stop. There are also multiple bus lines that run through the neighborhood including the 50 Damen and 92 Foster. This wide array of public transportation allows for a relatively convenient commute to Chicago’s Business District where most residents travel to work.
- Rarely Available Bowmanville 11-Unit Corner Apartment
- Under Contract in Eighteen (18) Days
- Eleven (11) Tours & Four (4) Offers
- Sold GRM: 11.80
- Sold CAP Rate: 5.52%