Essex Realty Group, Inc. is exclusively engaged to market for sale 3415 N. Seminary Ave. (“the Property”), a three-flat and two-unit coach house located in the Lakeview neighborhood of Chicago. The Property is ideally situated 0.2 miles south of Wrigley Field, less than 0.3 miles from the Southport and Belmont CTA stations, and steps from a vibrant restaurant and bar scene along Clark Street.

The front building is comprised of one (1) 4Bd/2Ba duplex down and two (2) 2Bd/1Ba apartments. The rear coach house consists of one (1) 1Bd/1Ba and one (1) 2Bd/1Ba apartment. Each apartment has hardwood floors, individual furnaces, white or stainless steel appliances, wood cabinetry, and laminate counters, and vintage details. Several of the units have received varying levels of updates throughout the years including newer appliances, updated kitchen cabinetry, and granite counters. Building systems include tenant-paid gas-forced heat, individual hot water tanks, and coin-operated laundry in the building.

The Property presents investors with multiple value-add opportunities. There is potential for a new owner to bring rents to market or renovate the building to capture rental upside. 2Bd/1Ba units at the building average $1,468/month, while similar units rent for over $1,850/month. Renovated 2Bd/1Ba units rent for $2,025/month. There is also potential to leverage the recently passed ADU ordinance to add additional dwelling units. In addition, the Property is listed at a price materially below comparable buildings due to the train line that runs along the side of the building.

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• 100% occupied three-flat and two-unit coach house in highly desirable Lakeview location
• Substantial as-is rental upside and multiple value-add opportunities
• Current 2Bd/1Ba rents avg. $1,468/month; Comparable, nearby 2Bd rents avg. $1,850/month; Renovated 2Bds avg. $2025/month
• Market GRM & Cap Rate: 10.39 & 5.75% / Renovated GRM & Cap Rate: 10.08 & 6.38%
• 0.2 miles south of Wrigley Field and 0.3 miles from the Southport and Belmont CTA stations
• Steps from the vibrant Lakeview restaurant and bar scene along Clark Street