Six-Unit Multifamily
For Sale
Contact for pricing
1853 West Wellington Avenue, Chicago, IL 60657
Fully leased six-unit asset features two buildings with historic character and modern design in West Lakeview.
Property Size6,150 SF
Days on Market61
Property Features for 1853 West Wellington Avenue
General Information
Standard status
Active
Size
6,150 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Tenancy
Multi
Listing Agency:
CBRE - Chicago
(913) 909-9529
Listed By:
Dominic Soltero · License #475153308
(913) 909-9529
Source:
Cbre
Added: Jun 11
Changed: Aug 8
Last Checked: Jun 13 at 2:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Chicago
Investment Insights
Based on property information with market context.
The offering includes a fully leased, two-building multifamily property containing 6 apartments total. One building is a two-story structure with 3 apartments and approximately 3,786 square feet. The second building is a three-story structure with 3 apartments and approximately 2,634 square feet, addressed as 2949 North Wolcott Avenue. The apartments are described as thoughtfully laid out, blending historic character with modern design elements.
The property is positioned on the southeast corner of West Wellington Street and North Wolcott Avenue in Chicago’s West Lakeview neighborhood. The remarks note convenient access to transportation and proximity to neighborhood dining, entertainment, and shopping.
This asset is being presented as an opportunity for both investors and owner-occupants, with the current rents described as severely under market. The next owner can potentially increase income as tenants turn over, supported by rent stabilization, light upgrades, and active management as outlined in the offering materials. With a smaller multifamily configuration and two buildings under one ownership, the property may fit buyers looking to reposition a compact rental asset in a well-established rental area.
The property is positioned on the southeast corner of West Wellington Street and North Wolcott Avenue in Chicago’s West Lakeview neighborhood. The remarks note convenient access to transportation and proximity to neighborhood dining, entertainment, and shopping.
This asset is being presented as an opportunity for both investors and owner-occupants, with the current rents described as severely under market. The next owner can potentially increase income as tenants turn over, supported by rent stabilization, light upgrades, and active management as outlined in the offering materials. With a smaller multifamily configuration and two buildings under one ownership, the property may fit buyers looking to reposition a compact rental asset in a well-established rental area.
Key Highlights
- Fully leased 6‑unit multifamily asset in Chicago’s West Lakeview neighborhood.
- Two buildings totaling 6 apartments: 3,786 SF two‑story building at 1853 W Wellington Ave.
- Second building is 2,634 SF three‑story building at 2949 N Wolcott Ave with 3 apartments.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5,843
Businesses Nearby
Explore this area
Business Placement
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased six-unit asset features two buildings with historic character and modern design in West Lakeview.
Where is this apartment building located?
The property is located at 1853 West Wellington Avenue Chicago, IL.
What are key features of this property?
This property features: Fully leased 6‑unit multifamily asset in Chicago’s West Lakeview neighborhood.; Two buildings totaling 6 apartments: 3,786 SF two‑story building at 1853 W Wellington Ave.; Second building is 2,634 SF three‑story building at 2949 N Wolcott Ave with 3 apartments.
