905 W Fletcher St, Chicago, IL 60657

Investment Overview

905 W Fletcher St consists of two buildings totaling 7 units on a 37.5' extra-wide lot. The front building is a stately greystone and brick 4-unit with a copper cornice. The rear building is a 3-unit frame coach house. 6 of 7 units have Central Air and all units pay for their own heat. 3 of 7 units have in-unit laundry and the others share a common laundry room in the main building. There is a single tandem parking spot available. The asset is located in East Lake View half a block from the Belmont Red Line CTA station. This is a dynamic area of the city experiencing significant development: immediately to the south, Advocate Illinois Masonic is undergoing a $645 million expansion adding a 230-bed new private-bed tower in October 2025. In addition, Whole Foods is opening at the southeast corner of Belmont & Clark. The property is being listed at $2.290 mm, an approximate in-place 5.5% cap rate and 11.0x GRM. The building has had very little turnover in the past three years and there is a +18% mark-to-market opportunity within the in-place rent roll allowing. A new buyer could stabilize the asset near a 6.9% cap rate and 9.4x GRM. Listing agent has an ownership interest in the building.

Investment Highlights

• Extra-wide 37.5' lot.
• 4-unit greystone and brick building + 3-unit frame coach house
• Significant redevelopment activity in the neighborhood including the $645 million expansion of Advocate Illinois Masonic and new Whole Foods
• Listing broker has ownership interest