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3751-3759 N Western Ave Apartment Building For Sale Chicago, IL 60618
INVESTMENT HIGHLIGHTS
- Rare infill site offering immediate income and long-term growth
- Existing mixed-use building was fully gut rehabbed in 2018 with minimal deferred maintenance or capex required
- Core location in strong rental submarket, located one block from Bell Elementary, a desirable and highly rated K-8 CPS school
- In-place rents offset carry costs during construction; Room to increase rents on a handful of existing units
- B3-3 zoning allows for up to 22 additional dwelling units as-of-right with no parking
- Conveniently accessible with CTA bus stop located in front of the building and I-90/94 located 1.5 miles away
EXECUTIVE SUMMARY
Baum Realty Group, LLC has been exclusively retained to offer for sale 3751-3759 N. Western
Avenue, a part three-story, part one-story mixed-use building at the southeast corner of Western &
Grace in Chicago’s North Center neighborhood. Sitting on 9,633 SF of land, the building contains a
total of fourteen (14) units, with ten (10) fully leased, modern residential units and four (4) commercial
units. The residential unit mix consists of two (2) 1 bed/1 bath apartments, six (6) 2 bed / 2 bath
apartments, and (2) 3 bed / 3 bath apartments. The existing building was fully gut rehabbed in
2018 with a new roof, electrical service, plumbing, windows, masonry / tuckpointing and more.
In addition to the stabilized income from the existing three-story building, the Property offers a
rare and attractive opportunity to construct up to an additional 22 dwelling units AS-OF-RIGHT
where the single-story portion of the building sits. Such a development is permissible without any
parking requirement (100% reduction), ensuring a smooth and easy zoning path to getting a shovel
in the ground.
Subject to Offer
Avenue, a part three-story, part one-story mixed-use building at the southeast corner of Western &
Grace in Chicago’s North Center neighborhood. Sitting on 9,633 SF of land, the building contains a
total of fourteen (14) units, with ten (10) fully leased, modern residential units and four (4) commercial
units. The residential unit mix consists of two (2) 1 bed/1 bath apartments, six (6) 2 bed / 2 bath
apartments, and (2) 3 bed / 3 bath apartments. The existing building was fully gut rehabbed in
2018 with a new roof, electrical service, plumbing, windows, masonry / tuckpointing and more.
In addition to the stabilized income from the existing three-story building, the Property offers a
rare and attractive opportunity to construct up to an additional 22 dwelling units AS-OF-RIGHT
where the single-story portion of the building sits. Such a development is permissible without any
parking requirement (100% reduction), ensuring a smooth and easy zoning path to getting a shovel
in the ground.
Subject to Offer
PROPERTY FACTS
| Sale Type | Investment or Owner User | Lot Size | 0.23 AC |
| Property Type | Multifamily | Building Size | 24,657 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1931/2016 |
| Building Class | B | ||
| Zoning | B3-2 | ||
| Sale Type | Investment or Owner User |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 24,657 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1931/2016 |
| Zoning | B3-2 |
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 14-19-116-001-0000 | Improvements Assessment | $206,187 |
| Land Assessment | $57,780 | Total Assessment | $263,967 |
PROPERTY TAXES
Parcel Number
14-19-116-001-0000
Land Assessment
$57,780
Improvements Assessment
$206,187
Total Assessment
$263,967
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3751-3759 N Western Ave
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