1954 W Montrose Ave Chicago, IL 60613

Building Details

Year Built

1914

Listing office Essex Realty Group Show Phone

Listing date Feb 9, 2024

Source Crexi

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Investment Insights

Based on property information with market context.

Located in the highly desirable Ravenswood neighborhood of Chicago, Illinois, the property at 1954-70 W. Montrose Ave. is an eleven-unit, fully renovated, mixed-use building. It comprises luxury apartments and fully leased commercial units. The unit mix consists of two three-bedroom / two-bath units, one large studio, and eight street-level commercial units leased to four tenants. These tenants occupy the corner of Montrose Ave. and Damen Ave. The updated residential units feature gourmet kitchens, modern bathrooms, individual HVAC units, domestic hot water tanks, and in-unit laundry. Each unit also has its own private patio area. Retail tenants include Ravenwood Fitness and Farm Bar. Most of the commercial tenants are on net leases, and the majority of the building’s expenses are passed through CAM to the tenants. The Montrose Brown Line Station is just a few steps from the property, providing tenants easy access to downtown Chicago. The property is an iconic and highly recognizable corner in Ravenswood.

Key Highlights

• Fully renovated mixed‑use building with luxury apartments and leased commercial units in the desirable Ravenswood neighborhood.
• Highly passive investment with net‑leased commercial tenants and CAM expense pass‑through, minimizing operating expenses.
• Updated residential units feature gourmet kitchens, modern bathrooms, individual HVAC, hot water tanks, and in‑unit laundry.

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FAQs

What type of property is this?

Mixed-use property - Eleven-unit, fully renovated mixed-use building in desirable Ravenswood neighborhood.

Where is this mixed-use property located?

The property is located at 1954 W Montrose Ave Chicago, IL.

What is the asking price?

The asking price for this property is $4,250,000.

What are key features of this property?

This property features: Fully renovated mixed‑use building with luxury apartments and leased commercial units in the desirable Ravenswood neighborhood.; Highly passive investment with net‑leased commercial tenants and CAM expense pass‑through, minimizing operating expenses.; Updated residential units feature **gourmet kitchens, modern bathrooms, individual HVAC, hot water tanks, and in‑unit laundry.**