Property Overview

Interra Realty has been exclusively engaged to market 3826-30 N. Ashland Avenue, Chicago, for sale. The subject investment opportunity is a six unit multifamily asset in the Lakeview Neighborhood of Chicago's northside.

The offering is comprised of two adjacent properties with their own PINs, which provides exit strategy optionality and favorable zoning for value-add potential. 3826 is a three unit multifamily building with a two car garage. 3830 is a three unit mixed-use asset with two apartments over ground floor commercial. Ownership has secured zoning approval to convert the commercial space into an apartment. Additionally, ownership has approval for the addition of two ADU units, which would likely be in the form of new coach houses. Neither ADU would need to be designated as affordable given that they are separate properties.

The five existing apartments have been modernized and feature nice rental quality finishes, in-unit laundry, and individual HVAC and hot water heaters. The commercial space was previously a residential real estate office.

A new investor has the opportunity to acquire a multifamily asset in one of Chicago's best neighborhoods, with multiple value-add strategies.

Highlights

  • Two Adjacent Properties Present Exit Strategy Optionality
  • Approved Conversion of Retail to Apartment and Two ADU Units
  • Apartments are Renovated and Feature In-Unit Laundry and Individual HVAC
  • Two, Two Car Garages
  • Steps from Southport Corridor

Key Details

Sale Price
$1,860,000
Number of Units
Six (6)
Submarket
Lakeview