1226 N Cleaver St
Chicago, IL 60642
Multifamily Property For Sale · 7 Units

Greenstone Partners is pleased to present the opportunity to acquire 1226 North Cleaver (the “Property”), a multifamily investment opportunity in Chicago’s coveted Wicker Park neighborhood, featuring six units plus an additional nonconforming seventh unit. Ideally positioned just one block north of Division Street, the Property benefits from strong rental demand, a dense population base, and proximity to the vibrant amenities of Wicker Park and West Town.
The Property has been owned and passively managed by the same owner for over 20 years, resulting in rents that remain well below current market levels. Modern building systems, combined with historically high occupancy, provide investors with a solid foundation and significant upside potential through repositioning.
The unit mix consists of six (6) spacious two-bedroom, one-bathroom apartments, plus one (1) non-conforming one-bedroom, one-bathroom unit. All utilities are separately metered and paid directly by tenants. Apartments feature hardwood flooring throughout, in-unit laundry, gas fireplaces, and kitchens/bathrooms with updated finishes, including stainless steel appliances, granite countertops, dishwashers, and white or espresso cabinetry.
With two (2) current vacancies and below-market in-place rents, a new owner has the immediate opportunity to capture outsized returns by updating and leasing available units and bringing rental rates in line with neighborhood comparable apartments. The Property offers both durable cash flow and a straightforward value-add strategy in a prime Chicago location.
1226 North Cleaver represents a rare chance for investors to acquire a well maintained, vintage building with strong fundamentals, excellent renter appeal, and clear pathways for appreciation.