Montrose & Damen 1954-1970 W Montrose Ave Local commercial 929 m² 100 % Loué À vendre Chicago, IL 60613 3 703 067 € (3 985,95 €/m²) Taux de capitalisation 7,57 %

Essex Realty Group, LLC. is exclusively engaged to market for sale 1954-70 W. Montrose Ave., located in the highly desirable Ravenswood neighborhood of Chicago, Illinois. This eleven-unit, fully renovated, mixed-use building comprises luxury apartments with fully leased commercial units.
The unit mix consists of two (2) three-bedroom / two-bath, one (1) large Studio, and eight (8) street-level commercial units leased to four tenants at 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. Additionally, each unit has its own private patio area. Retail tenants include Ravenwood Fitness and Farm Bar, the latest venture from the Farmheads hospitality group.
This is a highly passive investment, with most of the commercial tenants on net leases, and the majority of the building’s expenses are passed through CAM to the tenants, creating minimal operating expenses for the ownership. These long-term tenants have created stability in this asset, making it an iconic and highly recognizable corner in Ravenswood.