ON MARKET – MULTI-FAMILY
931-941 W. Carmen Ave. Chicago, IL 60640
NEIGHBORHOOD
Uptown
PRICE
$10,500,000
NUMBER OF UNITS
63
CAP RATE
3.21%
PROPERTY LISTED

.Essex Realty Group, Inc. has been exclusively engaged to market for sale 931-941 W. Carmen Ave. ("the Property"), a 63-unit corridor-style, elevator building and an adjacent 51-car parking lot to the east (100' x 135', zoned RT-4). The Property is conveniently located two blocks south of Mariano's, 0.21 miles east of the Argyle CTA Red Line Station, 0.38 miles northeast of the Lawrence CTA Red & Purple Line Station, and 0.39 miles west of Lake Michigan.

The Property is comprised of forty-three (43) studios, eighteen (18) one bed/one-bath units, and a ground-floor management office. The apartments have hardwood and vinyl flooring; kitchens with various finishes; and bathrooms with ceramic tile floors, ceramic tile shower surrounds, and laminate vanities with fiberglass tops. The property is equipped with passenger and freight elevator service, a Weil-McClain boiler, a hot water heater plus storage tank, and communal coin-operated laundry.

*931-941 W. Carmen Ave. is designated by the Chicago Department of Buildings as a 63-unit apartment building but is presently comprised of 61 units. Please see pages 7 and 38 for additional details.

LOCATION DETAILS

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HIGHLIGHTS
  • Rarely Available Building - Owned 20+ Years
  • 61 Apartments With Ability To Add 2 Legal Units Per FOIA
  • Ideal Renovation Opportunity With 18 Vacant Units
  • 135 x 100 SF Lot Contains 51 Parking Spaces
  • Premier Location Near Lake Michigan, CTA 'L' Station, & Mariano's
  • Situated Within North ADU Pilot Zone
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Jaimie Steinher
Director
773.305.4916