Ravenswood Mixed-Use Investment
For Sale
Contact for pricing
Pending
1954 W Montrose Ave, Chicago, IL 60613
Eleven-unit, fully renovated mixed-use building in desirable Ravenswood neighborhood.
Property SizeContact for details
Days on Market931
Property Features for 1954 W Montrose Ave
General Information
Standard status
Pending
Total Parking Spaces
2
Property subtype
Mixed Use
Zoning
B3-1
Net Operating Income
$322,986
Building Details
Year Built
1914
Buildings
1
Stories
2
Listing Agency:
Essex Realty Group
(312) 935-1050
Listed By:
Steven Livaditis · License #IL
Source:
Crexi
Added: Feb 9, 2024
Changed: Aug 23
Last Checked: Aug 26 at 9:45PM
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 Essex Realty Group
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,080
Businesses Nearby
Explore this area
Business Placement
Demographics for 60613, IL
53,048
Population
31,263
Households
1.7
Avg Household Size
34
Median Age
75%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
23,064
Density / Sq Mi
$91,351
Median Household Income
$68,713
Median Earnings
$1,616
Median Rent
$397,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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.**
