1528 W Chestnut St
Marcus & Millichap is pleased to present this multi-family real estate opportunity of 1528 West Chestnut Street in the West Town neighborhood of Chicago, Illinois. The subject property is located 2.2 miles northwest of downtown Chicago's loop area, 0.7 miles west of the CTA's Blue Line train station at Chicago Avenue, half-mile west of the Kennedy Expressway, and 0.2 miles south of the CTA's bus 9 stop Ashland and Augusta. The unit mix for the subject property consists of two, three-bedroom/two-bathroom units, and one, four-bedroom/three-bathroom duplex unit that measures 1,300, 1,400, and 2,400 square feet, respectively.
The neighborhood of West Town is one of Chicago's fastest growing communities with a multitude of things to do, all with a low-key vibe and within walking distance from the subject property. Two major retail corridors are Milwaukee Avenue and Division Street which boast the neighborhood shopping centers, casual and fine dining restaurants, nightlife opportunities from live music to theater, and plenty of local bars and breweries. West Town is filled with local art galleries, antique stores, and independent theater acts which draws in residents from the surrounding areas.
An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of this asset plus the ability to raise current rents to conform with the current rental market.