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Listed by Harrison Cohenof Triton Realty Group LLC
$4,150,000
Est. payment /mo
15,449 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 15,449 sqft
Price per Sqft $268
MLS Listing ID 12515144
Year Built 1929
Annual Tax Amount $46,583
Tax Year 2023
Lot Size 5,662 Sqft
Lot Dimensions 50x120
Property Sub-Type Multi Family 5+
Property Description
LAKEVIEW / WRIGLEYVILLE VALUE-ADD OPPORTUNITY! Investor's dream asset positioned on the corner of Marshfield & Grace in one of Chicago's most dynamic and high-demand neighborhoods. This impressive multi-family building currently features 13 units plus one additional non-conforming garden studio, totaling 14 spacious units. The diverse unit mix includes one, two, and three-bedroom apartments. The property offers an excellent value-add play with significant upside potential. Investors can realize high returns through strategic management, raising current below-market rents to market levels in existing condition, or improving to further maximize rental income via a cosmetic update to the units. Residents benefit from exceptional walkability to Wrigley Field, Lake Michigan, premier retail, and a vibrant dining scene along the Southport Corridor, Clark Street, and Addison Street. Transit access is superb, with the Addison and Sheridan CTA Red Line Stations, Irving Park and Addison Brown Line Stations and multiple bus stops just steps away. This is a stabilized asset with significant potential, capitalizing on a prime Lakeview location.
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
View Y/N true
Building
Structure Type Brick
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Joanna Lewkowicz
Designated Managing Broker | Owner | 471.018027 471018027
+1(708) 226-4848 | joanna@boutiquehomerealty.com