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Paper Box Lofts 153 W Ohio St 36 Unit Apartment Building For Sale Chicago, IL 60654
Investment Highlights
- Prime River North Location - True Live-Play-Work Community
- Full Adaptive Re-Use Renovation with New Building Systems
- Redeveloped By Right - No Affordability Restrictions
- Soaring 12-17' Timber Ceilings and Luxury Finishes in All Units
- Uncompromising Common Area Amenities for Boutique Building
Executive Summary
Interra Realty has been exclusively engaged to market 153-157 W. Ohio Street, "Paper Box Lofts", for sale. The subject investment property is a 35 unit, luxury multifamily asset in one of Chicago's most dynamic and sought after neighborhoods. The property was originally a box factory, then operated as a loft office building prior to the seller converting it to luxury apartments. The property was redeveloped without a zoning change, allowing the property to operate without any affordability restrictions.
All apartments feature high, exposed timber ceilings, abundant natural light, luxurious and tasteful kitchen and bathroom finishes, in-unit laundry, and individual HVAC. Select units have private balconies or terraces. Common area amenities include, large fitness center, multi-level rooftop deck, storage lockers, package delivery system, and well-appointed lobby.
Paper Box Lofts offers investors to acquire a rarely available, boutique multifamily asset in one of Chicago's best neighborhoods. The property is well-positioned against competitive rental stock given rarity of loft style product in a submarket with primarily new construction offerings. The property is being offered for sale free-and-clear of existing debt.
All apartments feature high, exposed timber ceilings, abundant natural light, luxurious and tasteful kitchen and bathroom finishes, in-unit laundry, and individual HVAC. Select units have private balconies or terraces. Common area amenities include, large fitness center, multi-level rooftop deck, storage lockers, package delivery system, and well-appointed lobby.
Paper Box Lofts offers investors to acquire a rarely available, boutique multifamily asset in one of Chicago's best neighborhoods. The property is well-positioned against competitive rental stock given rarity of loft style product in a submarket with primarily new construction offerings. The property is being offered for sale free-and-clear of existing debt.
Property Facts
| Sale Type | Investment | Building Class | B |
| No. Units | 36 | Lot Size | 0.20 AC |
| Property Type | Multifamily | Building Size | 31,128 SF |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1906/2024 |
| Zoning | DX7 | ||
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 31,128 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1906/2024 |
| Zoning | DX7 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Island Kitchen
Site Amenities
- 24 Hour Access
- Controlled Access
- Fitness Center
- Roof Terrace
- Elevator
- Sundeck
- Study Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | $2,203 | 562 |
| 1+1 | 17 | $3,017 | 729 |
| 2+1 | 6 | $3,873 | 1,041 |
| 2+2 | 6 | $5,259 | 1,318 |
| 3+2 | 1 | $7,475 | 1,771 |
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Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (84)
Property Taxes
| Parcel Number | 17-09-238-007-0000 | Improvements Assessment | $573,905 |
| Land Assessment | $130,395 | Total Assessment | $704,300 |
Property Taxes
Parcel Number
17-09-238-007-0000
Land Assessment
$130,395
Improvements Assessment
$573,905
Total Assessment
$704,300
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Paper Box Lofts | 153 W Ohio St
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