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18-Unit Apartment Building
For Sale
Contact for pricing
Pending

663 West Melrose, Chicago, IL 60614

Former apartment property organized as a condominium association in Chicago’s Lakeview neighborhood.

Property SizeContact for details
Days on Market147

Property Features for 663 West Melrose

General Information

Standard status Pending
Property subtype Multifamily

Additional Details

Multifamily Units 18

Building Details

Year Built 1974
Listing Agency: CBRE - Chicago
Listed By: Justin Ross · License #IL 475151928
Source: Crexi
Added: Apr 10 Changed: Sep 2 Last Checked: Sep 1 at 11:20PM

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 property is an 18-unit residential structure originally developed as apartments in 1974. Its ownership structure changed in 1981 when the building was converted to condominium ownership and organized as the 663 W Melrose Condominium Association.

Located at 663 West Melrose in Chicago’s Lakeview neighborhood, the asset offers an established multifamily configuration with a condominium association structure. The property’s original apartment design and unit count provide clear context for evaluating its current residential organization.

Key Highlights

  • 18‑unit residential structure
  • Originally built as apartments in 1974
  • Converted to condominium ownership in 1981

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Food Market Auto Repair Shop Grocery & Convenience Store (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18
Residential units

Location Intelligence

Trade Area within ½ mile

7,548
Businesses Nearby

Demographics for 60614, IL

73,173
Population
38,089
Households
1.9
Avg Household Size
31
Median Age
86%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
22,867
Density / Sq Mi
$139,561
Median Household Income
$86,386
Median Earnings
$2,019
Median Rent
$730,700
Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
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Frequently Asked Questions

What type of property is this?
Apartment building - Former apartment property organized as a condominium association in Chicago’s Lakeview neighborhood.
Where is this apartment building located?
The property is located at 663 West Melrose Chicago, IL.
What are key features of this property?
This property features: 18‑unit residential structure; Originally built as apartments in 1974; Converted to condominium ownership in 1981
More about this property
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