1841 North Hermitage Avenue — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Chicago, IL 60622

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1841 North Hermitage Avenue — Sale in Chicago, IL, photo 1 of 2
1841 North Hermitage Avenue — Sale in Chicago, IL, photo 2 of 2

Investment Figures

Cap rate
4.71%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

OVERVIEW 1841 North Hermitage Avenue is a well-positioned multifamily asset located on a quiet, tree-lined street in Chicago’s Bucktown neighborhood. The property is a short walk from Damen Avenue’s shopping and dining corridor and benefits from proximity to the Clybourn Metra stop and the Kennedy Expressway, offering residents convenient access to downtown and the broader North Side. The asset comprises five multifamily units totaling approximately 3,500 rentable square feet (4,025 gross building area). The building’s efficient, single unit-type configuration supports streamlined management and consistent operating performance. Unit Mix The residential component is uniform, offering simple, repeatable operations for ownership: • FIVE ONE-BEDROOM / ONE-BATHROOM UNITS NEIGHBORHOOD & LIFESTYLE APPEAL Bucktown continues to rank among Chicago’s most desirable North Side neighborhoods, offering a distinctive mix of historic residential architecture, boutique retail, and a well-regarded dining and nightlife scene. Its strong Walk Score, extensive bike infrastructure, and proximity to Holstein Park and the 606 Trail make it a consistent draw for renters seeking an urban, amenity-rich lifestyle with strong transit connectivity. INVESTMENT RATIONALE 1841 North Hermitage offers investors an efficient, well-located multifamily asset in a defensive North Side submarket characterized by strong renter demand and limited new supply. Its uniform unit mix simplifies underwriting and ongoing operations, positioning the property as a straightforward addition to a Bucktown-focused investment strategy. Investment Highlights: • Prime Bucktown Location • Value-Add Potential through Rental Increases and Management Efficiency • Durable Rental Demand and Limited New Supply

Market Context

This multifamily in Chicago, IL is listed for sale. It is offered at an approximate 4.7% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Chicago, IL — view the full market.

As of Q1 2026, the Chicago multifamily market showed average asking rents near $2018.50/unit/mo, and rents up 3.1% year over year. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

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