838 N Wolcott Avenue, Chicago, Illinois 60622
- $1,450,000
- List Price
- $1,450,000
- MLS#
- 12761705
- Status
- NEW
- Type
- Commercial
- Subtype
- Commercial Sale
- County
- Cook
- City
- Chicago
- Neighborhood
- East Ukrainian Village
- Days On Market
- 3
Property Description
Welcome to 838 N. Wolcott Avenue (the "Property"), a light value-add multifamily asset ideally positioned in the heart of Chicago's highly sought-after East Village / West Town neighborhood. Situated just north of the vibrant Chicago Avenue retail corridor, the Property offers investors the rare opportunity to acquire a well-maintained, cash flowing asset with meaningful rental upside in one of Chicago's strongest and most supply-constrained rental submarkets. The Property consists of three (3) 2 Bed / 1 Bath + Den units and two (2) 1 Bed / 1 Bath + Den units. These spacious floor plans are uncommon within the surrounding submarket and appeal to a broad tenant base seeking larger living spaces, work-from-home flexibility, and convenient access to the neighborhood's retail and dining amenities. Current ownership has invested significant capital into both the building's physical structure and major mechanical systems. Recent improvements include a complete tear- off roof and tuckpointing in 2024, basement repairs and a new basement entry door in 2025, and a new central A/C condenser in 2024. Unit-level mechanical updates have also been completed throughout the Property, including a new water heater and washer/dryer in Unit 1F (2025), a new washer/dryer in Unit 1R (2026), a new water heater and washer/ dryer in Unit 2F (2024) along with a new refrigerator in 2025, and a new dishwasher and faucet in Unit 3F (2024) followed by a new water heater and washer/dryer in 2025. The rear units have been renovated with condo-quality finishes, featuring stainless steel appliances, espresso and white cabinetry, granite countertops, and hardwood flooring throughout. Positioned one block north of Chicago Avenue, residents are within walking distance of notable local and national destinations including Lush Wine & Spirits, Beatnik, Forbidden Root, Opart Thai House, Arami, Roots Pizza, West Town Bakery, and the Chicago Public Library. The Property also benefits from exceptional transit connectivity, located approximately 0.2 miles from both the Kennedy Expressway and the CTA Blue Line, providing seamless access to Downtown Chicago, O'Hare International Airport, and surrounding neighborhoods. With its premier West Town location, oversized floor plans, recent capital improvements, and clear path to future rent growth, 838 N. Wolcott Avenue represents an exceptional opportunity to acquire a stable, operationally efficient multifamily asset with long-term upside in one of Chicago's most competitive rental markets.
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Additional Information
- Tax Year
- 2024
- Year Built
- 1894
- Lot Dimensions
- 24 X 125
- Air Conditioning
- Central Air
- Basement
- Yes
Mortgage Calculator
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