Essex Realty Group, Inc. is pleased to announce the sale of 846 N. Hoyne Ave. (“the Property”), a 6-unit, walk-up apartment building located in the popular West Town neighborhood of Chicago. The Property is situated steps from multiple CTA bus stops and 0.65 miles from the Western Metra Station.
846 N. Hoyne Ave. is comprised of six (6) 1Bd+Office/1Ba apartments. The building features gas forced air, individual hot water heaters, updated 600 amp electric service, coin-operated laundry, and rear porches replaced in 2015. Each apartment features hardwood floors, vintage details, white appliances, wood cabinetry, and laminate countertops. Several units also feature private front balconies and original built-in hutches.
Essex generated ten property tours and procured five offers through a competitive bidding process. The property was purchased by a local developer who plans to renovate the building. Please call for more sale information.
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- Essex generated 10 property tours and procured 5 offers
- 6-unit walk-up apartment building in highly desirable West Town location
- Substantial as-is rental upside and multiple value-add opportunities
- Current rents avg. $1,315/month; As-is market rents avg. over $1,425/month
- Renovated nearby units rent for between $1,650-$1,900/month
- One block north of the vibrant Chicago Avenue commercial corridor
- Steps from multiple CTA bus stops and 0.65 miles from the Western Metra Station