ON MARKET – MULTI-FAMILY
2725-2737 N. Ashland Ave. Chicago, IL 60614
PRICE
$13,249,000
NUMBER OF UNITS
18
CAP RATE
6.25%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 2725-37 N. Ashland Ave., located in Chicago's highly sought-after Lincoln Park neighborhood. The new construction property is comprised of three (3) 6-unit center-entrance buildings that feature seven (7) 5 Bed/3 Bath duplex-up units, five (5) 5 Bed/3 Bath duplex-down units, six (6) 3 Bed/2 Bath units, as well as eighteen (18) exterior parking spaces. Constructed in 2020, the property exhibits a first-class living experience with amenities that include a fitness center, recreation/game room, and business center.

The apartments offer expansive open floorplans that feature hardwood floors, ample storage space, and private outdoor living areas with excellent city skyline views. Each kitchen was tastefully designed and features chef's kitchens, custom cabinetry, quartz countertops, and high-end stainless steel appliances. In addition, units include individual HVAC, hot water tanks, and in-unit laundry.

2725-37 N. Ashland Ave. sits on the east side of Ashland Ave., just south of Diversey Pkwy., and is conveniently located less than one mile from the Diversey CTA Purple/Brown Line Stations. Additionally, the property is situated less than two blocks from the Divvy Bike Station off Ashland Ave. & Wrightwood Ave., as well as the Ashland & Diversey Bus Stop. The property presents a rare opportunity to acquire a luxury-new construction apartment building, steps from DePaul University’s Campus, with unparalleled access to trendy restaurants, local coffee shops, and evening entertainment options.

LOCATION DETAILS

Chicago’s Lincoln Park neighborhood is one of the city's best-known and most historically significant areas. Located just over 3 miles north of the Loop with Lake Michigan to the east and the Chicago River to the west, Lincoln Park has experienced significant growth over the last few decades. Its proximity to the City’s central business district, convenient access to public transportation, and the lakefront have led to substantial residential and retail growth, transforming the community into one of Chicago’s most desired areas.

Lincoln Park offers many attractions, including the Lincoln Park Zoo, the Chicago History Museum, and, most notably, Lincoln Park, Chicago’s largest public park. Magnificent architecture, charming boutiques, and a vibrant restaurant and bar scene appeal to residents, students, and tourists alike. DePaul University is located in the heart of Lincoln Park and boasts a population of over 25,000 students. The university's presence and Lincoln Park’s appeal to younger residents create substantial demand for rental housing in the area.

HIGHLIGHTS
  • Rare Opportunity to Acquire an 18-Unit New Construction Property in Lincoln Park, Steps from DePaul University
  • Luxury Apartment Units with Chef’s Kitchen, In-Unit Laundry, and Private Balconies
  • Building Amenities feature Fitness Center, Game Room, Business Center, and Exterior Parking
  • Large, Attractive Unit Mix - (6) 3 Bd/2 Ba, (5) 5 Bd/3 Ba - DD, and (7) 5 Bd/3 Ba - DU
  • Stabilized Cap Rate: 5.38%
  • Walking Distance to CTA Purple/Brown Line Stations
LISTING BROKER
Matt Feo
Director
224.305.4102