1535 W Grace St, Chicago, IL for sale

Investment Overview

1535 W Grace St presents the opportunity to acquire a well-maintained four-unit property in Chicago's Lakeview neighborhood, one block west of the Southport Corridor. Built in 1898, the property consists of a three-story main building with three three-bedroom, one-bathroom apartments and a rear coach house containing one one-bedroom, one-bathroom apartment. A corner lot at Grace St. and Bosworth Ave gives every apartment an abundance of natural light. The first-floor apartment is a duplex-down with finished lower-level living space and an updated kitchen featuring granite countertops and stainless steel appliances. The upper-floor apartments retain original hardwood floors, ornate fireplace mantels, and bay windows. Every unit is separately metered with its own furnace, hot water heater, and tenants pay all heat, gas, and electric. Ownership has kept the property in sound operating condition: the roof received a new layer approximately two years ago, the windows are vinyl, and the plumbing is copper. The property also includes owner-operated coin laundry and four storage lockers that generate additional income.

Investment Highlights

• Rarely Available Corner 4-Unit One Block from the Southport Corridor
• Three (3) Large 3Bd/1Ba Apartments Plus a 1Bd/1Ba Coach House; First Floor is a Duplex-Down
• Recent Capital Improvements Include a New Roof Layer (~2 Years Ago), Vinyl Windows, and Copper Plumbing
• Surrounded by Single-Family Homes, Offering a Low-Density Setting Uncommon for a Multifamily Asset This Close to the Corridor
• Roughly Half a Mile from the Southport and Addison Brown Line Stations and Wrigley Field
• Steps to Blaine Elementary, a Top-10% Illinois School Rated A- on Niche, Located Just Down the Block