Interra Realty has been exclusively engaged to market 501 W. Deming for sale. The subject investment property is a fifty-eight unit multifamily asset in the Lincoln Park Neighborhood at the corner of Clark & Deming. Lincoln Park is one of the city’s most affluent Chicago submarkets, and has historically strong rental demand and low transaction velocity.

The property benefits from having a presence on Clark Street, and a paved parking lot for 37 cars. There is rental income from a sign, and potential to lease office and retail portion along Clark Street to increase revenue. Currently the office is being used by owners' management company, and the retail portion is used as storage.

The other 56 units are residential and are comprised of studios, 1-bed, 2-bed, and 3-bed units. The property is on a boiler system. There is a common laundry room for tenants.

A new investor has the rare opportunity to acquire a prime multifamily asset in one of Chicago’s best neighborhoods. The property is being offered for sale free-and-clear of existing debt.