ON MARKET – MULTI-FAMILY
4827-4833 North Wolcott Avenue Chicago, IL 60640
NEIGHBORHOOD
Ravenswood
PRICE
$6,250,000
NUMBER OF UNITS
25
CAP RATE
3.34%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged by a long-term out of state owner to market for sale, 4827-4833 North Wolcott Avenue, located in the heart of Chicago’s popular Ravenswood neighborhood. The property includes nineteen large and spacious 1 bed/1 bath units and six 2 bed/1 bath units which feature hardwood floors, white or stainless-steel kitchen appliances, separate dining rooms and shared laundry in the basement. An opportunity exists for an investor to further improve upon the property by upgrading kitchens & baths, adding in-unit laundry, and installing individual HVAC systems to each unit.

The property is ideally situated on the east side of beautiful tree lined Wolcott Avenue, just north of Lawrence Avenue and conveniently located 5 blocks to the Damen Brown Line CTA Station and right around the corner from the new Mariano’s grocery store on Lawrence, providing tenants with quick access to public transportation options and convenient shopping destinations. 4827-4833 N Wolcott is a rare opportunity to own a stately courtyard building in a prime Ravenswood location with an endless choice of charming restaurants, local bars and entertainment options, making this an excellent opportunity that does not come available very often.

LOCATION DETAILS

RICH HISTORY: Ravenswood is a charming neighborhood on the North Side of Chicago situated less than 8 miles north of the Loop. The neighborhood is ideal for commuters as there are numerous proximate public transportation options. Chicago's famous concert venues including the Old Town School of Folk Music, the Aragon Ballroom, and the Riviera Theatre, as well as the historic Green Mill Jazz Bar are only a mile away. Also sitting just one mile east is Chicago’s Montrose Harbor & Beach, both popular destinations year-round.

PRIME LOCATION: The property is located on the east side of Wolcott Avenue just north of Lawrence Avenue, in the heart of Ravenswood. 4827-4833 N Wolcott is located only 5 blocks from the Damen Brown Line CTA Station, minutes from the Ravenswood Metra Rail Station, and in close proximity to numerous bus stops. The property is also surrounded by several restaurants, bars, and entertainment options, notably, the Old Town School of Folk Music which is only a seven-minute walk away.

HIGHLIGHTS
  • 19 Oversized One Bedrooms & 6 Large Two Bedroom Apartments
  • Meticulously Maintained by Long-Term Owner
  • Significant Rental Increase Achievable After Renovations
  • Located 5 Blocks to the Damen Brown Line CTA Station & Steps to the New Mariano's
  • 3 Minutes Walking Distance to the Ravenswood Metra Train Station
LISTING BROKERS
Jim Darrow
Principal
773.305.4920
Jordan Gottlieb
Principal
773.305.4922