Essex Realty Group, Inc. has been exclusively engaged to market for sale, 858 North Wood Street & 1856 West Chicago Avenue, two corner buildings totaling 24 units in the popular West Town neighborhood of Chicago.
858 North Wood is a 10-unit property which includes six 1 beds + dens, three 1 beds, and one 2 bed/1 bath apartment. The apartments all feature vintage laminate countertops, white kitchen appliances and individual heat.
1856 West Chicago is a 14-unit property which includes six 1 bed/1 bath apartments, six 2 bed/1 bath, and two retail units measuring approximately 1,200. The apartments all feature vintage laminate countertops, white kitchen appliances, dishwashers and individual heat. Both buildings feature upgraded electric panels (100 AMPs) and service, updated plumbing, individual furnaces & more.
An extremely rare opportunity exists for an investor to purchase two large corner buildings blocks apart, and renovate the units to feature brand new kitchens, baths, HVAC and laundry in-unit.
The West Town neighborhood of Chicago is located a few miles west of Chicago’s Loop and offers views of Chicago’s skyline from most parts of the neighborhood. West Town benefits by being comprised of several neighborhoods who’s residents have brought a rich history. Neighborhoods within West Town include: East Village, Eckhart Park, portions of Humboldt Park, Noble Square, portions of River West, Smith Park, Ukrainian Village, and Wicker Park.
Today, West Town is rapidly changing and becoming one of Chicago’s most desirable neighborhoods, offering an array of colorful galleries and museums, independent theaters, quaint coffee shops, and a booming restaurant and nightlife scene. 1659 West Huron is located in the heart of West Town, just blocks from the neighborhood’s popular Chicago Avenue, as well as in close proximity to public transportation.
*Neighborhood information from https://www.westtownchicago.com/
- Cosmetic Value Add Opportunity; Great Unit Mix & Layouts
- Current Rents Average $1,372
- Newer Electric Service with 100 AMPs to Each Apartment
- Individual Furnaces in All Units
- Individual Hot Water Tanks and Copper Plumbing in Basement
- Two Corner Trophy Properties in the Heart of West Town
- Under Market Long Term Retail Tenants at Chicago Avenue Property
- Available as a Package or Individually