Essex Realty Group, Inc. has been exclusively engaged to market for sale 821 W Montrose Ave, a rarely available 23-unit apartment building located in the sought-after neighborhood of Buena Park. Steps from Lake Michigan, 821 Montrose features a large unit mix of seven (7) 1Bd/1Ba, seven (7) 2Bd/1Ba, and nine (9) 3Bd/1Ba units. In addition, common green space and six (6) surface parking spaces are featured at the rear of the property.

821 Montrose provides a unique opportunity to achieve significant upside in rents via the modernization of all units. The large layouts and tall ceilings provide investors with the space to reconfigure units and add condo-quality finishes and amenities throughout, including the addition of a second bathroom. Per the enclosed survey, doing so may increase rents $700-$1800/mo. and increase annual apartment rental income roughly 110%.

The convenient location of 821 Montrose affords tenants easy access to several restaurants, bars and nearby shops. Downtown Chicago and surrounding neighborhoods can be accessed via the Wilson Red Line stop located .5 miles from the Subject Property and multiple bus lines along Montrose Ave and Sheridan Rd. Lastly, Lake Shore Drive is situated .2 miles east of the property.

Situated roughly six miles north of Chicago’s Central Business District, Buena Park offers residents a charming community of tree-lined streets. Buena Park is mostly residential containing six-flats, single-family homes, and courtyard apartment buildings. The acres of green spaces throughout the neighborhood make Buena Park feel like a bucolic neighborhood that stands in stark contrast to the many high-rise buildings that surround it. Buena Park is located just North of Lakeview and East of Ravenswood allowing residents to enjoy the great qualities these neighborhoods have to offer.

Buena Park offers a variety of shops and restaurants, from cafes to diverse eateries. Shopping options include boutique and vintage stores. Leisure options feature beaches and parks, perfect for outdoor activities. Close to Wrigleyville for Cubs games and nightlife, Buena Park combines residential and urban amenities for a vibrant lifestyle.

• Rarely Available Buena Park Value-Add
• Significant Upside in Rents via the Modernization of Units
• Large Unit Mix: Seven (7) 1Bd/1Ba, Seven (7) 2Bd/1Ba, and Nine (9) 3Bd/1Ba Units
• .5 Miles to Wilson Red Line Station
• Walking Distance to Montrose Beach, Lakefront Trail and Wrigley Field