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1853 W Wellington Ave
Chicago, IL 60657
Multifamily Property For Sale
·
6 Units
Executive Summary
To view offering Memorandum, please visit: https://www.cbredealflow.com/handler/modern.aspx?pv=Wj72zKnh6EyKQZ1Hd9NBgaRKyc6x8ERf8q-9DwgYCf0VtfvweYQjjD-4GJO2yY6OuTStbqQTFCnW3DS14ENxkw
CBRE, Inc. is exclusively representing the sale of 1853 West Wellington Avenue (“The Property”), a fully leased, multi-family asset in Chicago’s West Lakeview neighborhood. The offering consists of a ±3,786 square foot, two-story building with 3 apartments and a ±2,634 square foot, three-story building (2949 North Wolcott Avenue) with 3 apartments, each offering a blend of historic character and modern design. Strategically positioned on the southeast corner of West Wellington Street and North Wolcott Avenue, the Property benefits from a prime location in a lively neighborhood renowned for its dining and entertainment options, as well as convenient access to all transportation.
This spacious 6-unit in West Lakeview is ideal for investors or owner-occupants looking to add value. The buildings consists of well-laid-out apartments with strong rental potential and classic Chicago charm, just steps from neighborhood amenities, transportation, dining, and shopping.
Currently, the asset has severely under market rents, allowing the next owner to increase rents as tenants turn over to achieve market-rate income with strong upside through rent stabilization, light upgrades, and active management. 1853 West Wellington is ideal for investors seeking to boost cash flow and property value.
With its desirable West Lakeview address, solid bones, and clear upside through rent increases, this building is a rare opportunity to reposition a smaller multifamily asset in one of Chicago’s most sought-after rental markets.
CBRE, Inc. is exclusively representing the sale of 1853 West Wellington Avenue (“The Property”), a fully leased, multi-family asset in Chicago’s West Lakeview neighborhood. The offering consists of a ±3,786 square foot, two-story building with 3 apartments and a ±2,634 square foot, three-story building (2949 North Wolcott Avenue) with 3 apartments, each offering a blend of historic character and modern design. Strategically positioned on the southeast corner of West Wellington Street and North Wolcott Avenue, the Property benefits from a prime location in a lively neighborhood renowned for its dining and entertainment options, as well as convenient access to all transportation.
This spacious 6-unit in West Lakeview is ideal for investors or owner-occupants looking to add value. The buildings consists of well-laid-out apartments with strong rental potential and classic Chicago charm, just steps from neighborhood amenities, transportation, dining, and shopping.
Currently, the asset has severely under market rents, allowing the next owner to increase rents as tenants turn over to achieve market-rate income with strong upside through rent stabilization, light upgrades, and active management. 1853 West Wellington is ideal for investors seeking to boost cash flow and property value.
With its desirable West Lakeview address, solid bones, and clear upside through rent increases, this building is a rare opportunity to reposition a smaller multifamily asset in one of Chicago’s most sought-after rental markets.
Property Facts
| Sale Type | Investment | Lot Size | 0.10 AC |
| No. Units | 6 | Building Size | 6,150 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1892 |
| Building Class | C | Parking Ratio | 0.49/1,000 SF |
| Zoning | RS-3 | ||
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 6,150 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1892 |
| Parking Ratio | 0.49/1,000 SF |
| Zoning | RS-3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 788 |
| 2+1 | 1 | - | 1,000 |
| 3+2.5 | 1 | - | 2,000 |
Property Taxes
| Parcel Number | 14-30-218-001-0000 | Improvements Assessment | $125,117 CAD |
| Land Assessment | $92,201 CAD | Total Assessment | $217,318 CAD |
Property Taxes
Parcel Number
14-30-218-001-0000
Land Assessment
$92,201 CAD
Improvements Assessment
$125,117 CAD
Total Assessment
$217,318 CAD
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