Chicago, IL 60622 1731 W Potomac Avenue
$1,725,000



23 more























Presented By: Compass
Home Details
Turnkey, fully renovated 5-unit apartment building in the heart of Wicker Park - one of Chicago's most sought-after neighborhoods. Gut rehabbed in 2021 with high-end finishes throughout, this 7 bed / 6 bath building is a rare, low-maintenance investment opportunity ready to perform from day one. The building consists of the following: 1 bed/1 baths (2), 1 bed/1 bath plus den (1), 2 bed/1 bath (1), and a tri-level 2 bed/2 bath with bonus storage (1). Each unit features in-unit laundry, new appliances (dishwasher, oven/range, refrigerator), custom cabinetry, custom closets, grey wood finish floors, designer lighting, and smart home amenities including a Ring doorbell and Nest thermostat. Units boast generous storage, and the building offers additional storage in the attic. All units are individually metered for utilities, keeping operating costs lean and management simple. The units themselves get plenty of sun in the front and thoughtfully laid out - several feature a flexible office nook or secondary bedroom, beautiful barn doors, and pantry storage that sets them apart from typical rental stock. The location is unmatched. Steps from the Division Blue Line, Division Street's bar and restaurant corridor, Jewel, Target, a Divvy station, and a neighborhood community garden - tenants have everything they need within a 5-minute walk. This building offers investors a truly low-overhead, high-demand asset in a neighborhood that consistently commands strong rents and minimal vacancy.
Presented By: Compass
Interior Features for 1731 W Potomac Avenue
Other Interior Features
BasementFinished
General for 1731 W Potomac Avenue
Additional Parcels Y/NNo
Cap Rate6.1
CityChicago
Construction MaterialsBrick
ContingencyAttorney/Inspection
CoolingCentral Air
CountyCook
Current UseMulti-Family
DirectionsWest on Division, North on Wood, East on Potomac
ElectricCircuit Breakers, Separate Meters
Electric Expense765
Fuel Expense
Gross Income156300
Insurance Expense4854
Lot Size Square Feet2300
MLS AreaCHI - West Town
MaintenanceExpense2000
Net Operating Income104540
Number Of Units Total5
Operating Expense53960
Property TypeCommercial Sale
Property TypeMulti Family 5+
Standard StatusActive Under Contract
StatusContingent
Stories Count2
Tax Annual Amount30608
Tax Year2024
Tenant PaysAir Conditioning, Electricity, Heat
TownshipWest Chicago
Trash Expense0
Water Sewer Expense5682
Year Built1890
Exterior for 1731 W Potomac Avenue
Building Area Total4500
Lot Dimensions23X100
Water SourceMunicipal Water
Additional Details
Price History

SQFT • 4,500