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1533-1537 Wieland St Chicago, IL 60610

Sponsored
For Sale
$6,975,000

20-Unit Multifamily Investment Opportunity

Property size:
10,740 SF

Description

Added:
Dec 11, 2024
Days on Market:
406
This exceptional 20-unit apartment building, located in Chicago's vibrant Old Town neighborhood at 1533-1537 N Wieland St, presents a compelling investment opportunity. The property, built in 1968 and fully renovated in 2022, boasts 10,740 square feet and offers a mix of 8 studio and 12 one-bedroom apartments, each featuring modern amenities. Units include stainless steel appliances, dishwashers, elegantly tiled bathrooms, in-unit laundry, and central heating and air conditioning. Conveniently located near the Sedgwick Brown Line CTA stop, the building also offers on-site covered parking. The property's strong financial performance is reflected in its current NOI of $394,718 and a 5.66% cap rate. The asking price is $6,975,000, representing a price per unit of $348,750. The building is zoned RM-5, providing flexibility for future use. This meticulously maintained property offers a blend of classic charm and modern updates, making it an ideal investment for discerning buyers seeking strong returns in a prime Chicago location. The high ceilings throughout the five-story building enhance the spacious feel of each unit. This is a rare opportunity to acquire a stabilized, high-performing multifamily asset in a highly desirable neighborhood.

Property Features for 1533-1537 Wieland St

General Information

Property type
Multifamily properties
Square Feet
10,740 SF

Building Details

Year Built/Renovated
1968/2022
Units
20

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Listing Contact
Sean Connelly
Sean Connelly

Learn more


Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.6354884
Latitude
41.9103844

FAQs

What type of property is this?
Multifamily property - 20-Unit Multifamily Investment Opportunity
Where is this multifamily property located?
The property is located at 1533-1537 Wieland St Chicago, IL.
What is the asking price?
The asking price for this property is $6,975,000.
More about this property
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