ON MARKET – MULTI-FAMILY
3225 North Wilton Avenue Chicago, IL 60657
NEIGHBORHOOD
Lakeview
PRICE
$2,775,000
NUMBER OF UNITS
10
CAP RATE
5.95%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale, 3225 North Wilton Avenue, an 8 unit property with 2 non-conforming units, located in Chicago’s popular Lakeview neighborhood. The front building is a classic greystone which houses 4 units while the coach house houses 6 units, with the majority being 2 and 3 bedroom apartments. A large, remarkable patio connects the buildings together offering tenants a great outdoor space.

8 out of 10 apartments have been previously renovated with beautiful hardwood floors, stainless steel appliances, granite counters, white shaker cabinets, subway tiled bathrooms and individual HVAC. 5 of the units feature in-unit laundry, while the other 5 use shared laundry located in each building. An opportunity exists for an investor to further improve the property by modernizing kitchens & baths, and adding laundry into the final two apartments to raise current rents to market level.

The property is a hidden gem situated on the east side of Wilton Avenue, just north of Belmont Avenue, and is conveniently located steps from the Belmont CTA Station and less than one mile from the Addison, Southport & Wellington Stations. Quick access to four CTA Stations provides tenants with access to the Brown, Purple & Red lines. 3225 N Wilton sits in a prime location in Lakeview as the property is close to public transportation, as well as an endless stream of restaurants, bars, shopping and entertainment options.

LOCATION DETAILS

RICH HISTORY: Lakeview is one of the most prominent areas in Chicago, located 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 making up the majority of tenants along retail corridors with major national tenants consistently moving in each year.

PRIME LOCATION: The property is located on the east side of Wilton Avenue, just north of Belmont Avenue in Chicago’s Lakeview neighborhood. 3225 N Wilton is steps from Belmont Avenue, a popular street full of local bars, restaurants & shopping options. The property is also conveniently located approximately 2 minutes walking distance to the Belmont CTA Station, and less than 1 mile from the Addison, Southport, Wellington & Diversey Stations. This provides tenants with great public transportation options with service to the Red, Brown & Purple CTA lines, along with multiple bus stops and Divvy Stations.

HIGHLIGHTS
  • Front Greystone Four Flat with Courtyard and Large Coach House
  • Property is Steps from the Belmont CTA Station Servicing Red, Purple & Brown Lines
  • 8 of 10 Apartments Beautifully Renovated with Brand New Kitchens, Baths and Mechanicals
  • 5 of 10 Apartments Feature In-Unit Laundry
  • Half a Mile from Wrigley Field
  • Two Units are Non-Conforming
LISTING BROKERS
Jim Darrow
Principal
773.305.4920
Jordan Gottlieb
Principal
773.305.4922
Jordan Multack
Director
773.305.4884