ON MARKET – MULTI-FAMILY
6031-6043 N. Paulina St. Chicago, IL 60660
NEIGHBORHOOD
Edgewater
PRICE
$6,600,000
NUMBER OF UNITS
43
CAP RATE
4.58%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 6031-6043 N. Paulina St. ("the Property") located in Chicago’s Edgewater Neighborhood. The Property consists of forty-three (43) apartments comprised of thirty-seven (37) one-bedroom and six (6) two-bedroom/one-bath units. The Property has been owned by the same family for more than 50 years, providing investors with the opportunity to acquire a rarely available asset in a rapidly improving location.

LOCATION DETAILS

6031-6043 N. Paulina St. is conveniently located 0.1 miles north of the new Metra Union Pacific North line at the intersection of Peterson and Ravenswood Avenues, within close proximity to numerous CTA bus stops and new developments.

HIGHLIGHTS
  • Rarely available 43-unit courtyard building just north of Andersonville.
  • Unit mix: (37) 1Bd/1Ba and (6) 2Bd/1Ba units.
  • 0.1 miles north of the new Metra Union Pacific North line at the intersection of Peterson and Ravenswood Avenues.
  • Rental upside: the average, large one-bedroom unit rents for $1,000/mo., while remodeled one-bedroom units in the building currently achieve $1,195/mo. Nearby units with standard finishes rent for $1,225/mo.
  • Multiple value-add opportunities: adding parking, duplexing units, and improving layouts and interiors.
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Clay Maxfield
Director
773.305.4852