Essex Realty Group, LLC has been exclusively engaged to market for sale 7319 N. Rogers Ave., a 16-unit walk-up apartment building located in Chicago’s Rogers Park neighborhood.
The Property consists of sixteen one-bedroom/one-bathroom apartments, all but one of which have been rehabbed since 2018 and include new floors, quartz countertops, subway tile backsplashes, new cabinetry, stainless steel appliances, and new bathrooms. The property generates additional income through on-site coin-operated laundry and garage parking. Of the 12 total garage spaces, 10 are currently income-producing, with one occupied by a dumpster and one reserved for building management. Converting these two spaces to rentable parking presents a straightforward value-add opportunity.
A new owner may choose to rehab the one remaining unrenovated first-floor unit and increase rent by $685 per month as proven by a similar unit in the building. Thus, one could potentially add $7,190 in net operating income, or $109,000 in value to the property (at a 6.6% cap rate).
7319 N. Rogers Ave. benefits from an exceptional transit-oriented location, with Howard Station (Red/Purple/Yellow Lines) approximately a 10-minute walk and the Rogers Park Metra station (UP-North Line) approximately a 9-minute walk, offering express service to the Loop in 15–23 minutes. The property is also within close proximity to the Clark Street retail corridor, Loyola University Chicago, Touhy Park, and the Lake Michigan shoreline, amenities that consistently drive strong rental demand in the neighborhood.
Rogers Park is Chicago’s northernmost lakefront neighborhood, spanning from Devon Avenue to Howard Street. Home to approximately 54,000 residents, Rogers Park boasts one of the highest renter concentrations on the North Side, with 73% of households renting rather than owning. The neighborhood is one of Chicago’s most racially and ethnically diverse communities, with a lively mix of longtime residents, Loyola University students and faculty, artists, and young professionals drawn by the neighborhood’s affordability, walkability, and lakefront access. Rogers Park’s streets are lined with independent restaurants, coffee shops, and bars representing cuisines from around the world, and the neighborhood hosts a farmers market, an annual international film festival, and a vibrant arts scene that gives it a distinct, eclectic character. The housing stock is predominantly pre-war, with a median construction year of 1942, and new market-rate development remains virtually nonexistent — unlike Chicago’s other lakefront neighborhoods. This lack of new supply, combined with deep-rooted renter demand driven by Loyola University Chicago and strong transit access via the CTA Red Line, provides apartment investors with a durable demand base and meaningful protection against occupancy and rent erosion.
- 16-unit Rogers Park walk-up with 11 parking spaces
- 15 units rehabbed since 2018
- All one-bedroom/one-bathroom units
- Steps from Howard Station (Red/Purple/Yellow Lines) and Rogers Park Metra