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1246 N Artesian Ave 8 Unit Apartment Building $2,700,000 ($337,500/Unit) 6% Cap Rate Chicago, IL 60622
Executive Summary
Property Highlights:
Fully gut-renovated, turnkey asset with minimal capex required
Stabilized building with strong in-place cash flow
Desirable unit mix with majority 2-bedroom units
Located on a quiet, tree-lined street in West Town
Location Overview:
Prime West Town location near Ukrainian Village and Wicker Park
Close proximity to Division St and Chicago Ave retail corridors
Strong tenant demand driven by walkability, dining, and nightlife
Easy access to CTA Blue Line and major transit routes
Additional Notes:
Taxes have been successfully appealed, resulting in a significant reduction
Consistent rent growth and strong rental comps in the immediate area
Ideal for investors seeking stabilized North Side assets with long-term upside
Fully gut-renovated, turnkey asset with minimal capex required
Stabilized building with strong in-place cash flow
Desirable unit mix with majority 2-bedroom units
Located on a quiet, tree-lined street in West Town
Location Overview:
Prime West Town location near Ukrainian Village and Wicker Park
Close proximity to Division St and Chicago Ave retail corridors
Strong tenant demand driven by walkability, dining, and nightlife
Easy access to CTA Blue Line and major transit routes
Additional Notes:
Taxes have been successfully appealed, resulting in a significant reduction
Consistent rent growth and strong rental comps in the immediate area
Ideal for investors seeking stabilized North Side assets with long-term upside
Property Facts
| Price | $2,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $337,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6% | Building Size | 7,000 SF |
| Gross Rent Multiplier | 12.12 | No. Stories | 3 |
| No. Units | 8 | Year Built/Renovated | 1890/2025 |
| Property Type | Multifamily | Parking Ratio | 0.43/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RS-3 - Residential Single-Unit District | ||
| Price | $2,700,000 |
| Price Per Unit | $337,500 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 12.12 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 7,000 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1890/2025 |
| Parking Ratio | 0.43/1,000 SF |
| Zoning | RS-3 - Residential Single-Unit District |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | - | - |
| 1+1 | 1 | - | - |
Exceptionally walkable
100/100
Fairly drivable
40/100
Strong public transit
80/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 16-01-228-022-0000 | Improvements Assessment | $177,360 |
| Land Assessment | $17,640 | Total Assessment | $195,000 |
Property Taxes
Parcel Number
16-01-228-022-0000
Land Assessment
$17,640
Improvements Assessment
$177,360
Total Assessment
$195,000
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1246 N Artesian Ave
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