Multifamily in Chicago, IL — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Chicago, IL 60657

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Description

New Listing: 1853 W Wellington – 6 Unit Value Add in Heart of West Lakeview/Roscoe Village, Chicago, Minutes from Hamlin Park To view Offering Memorandum, please visit: https://www.cbredealflow.com/handler/modern.aspx?pv=Wj72zKnh6EyKQZ1Hd9NBgaRKyc6x8ERf8q-9DwgYCf0VtfvweYQjjD-4GJO2yY6OuTStbqQTFCnW3DS14ENxkw CBRE, Inc. is exclusively representing the sale of 1853 West Wellington Avenue (“The Property”), a fully leased, multi-family asset in Chicago’s West Lakeview neighborhood. The offering consists of a ±3,786 square foot, two-story building with 3 apartments and a ±2,634 square foot, three-story building (2949 North Wolcott Avenue) with 3 apartments, each offering a blend of historic character and modern design. Strategically positioned on the southeast corner of West Wellington Street and North Wolcott Avenue, the Property benefits from a prime location in a lively neighborhood renowned for its dining and entertainment options, as well as convenient access to all transportation. This spacious 6-unit in West Lakeview is ideal for investors or owner-occupants looking to add value. The buildings consists of well-laid-out apartments with strong rental potential and classic Chicago charm, just steps from neighborhood amenities, transportation, dining, and shopping. Currently, the asset has severely under market rents, allowing the next owner to increase rents as tenants turn over to achieve market-rate income with strong upside through rent stabilization, light upgrades, and active management. 1853 West Wellington is ideal for investors seeking to boost cash flow and property value. With its desirable West Lakeview address, solid bones, and clear upside through rent increases, this building is a rare opportunity to reposition a smaller multifamily asset in one of Chicago’s most sought-after rental markets.

Market Context

This multifamily in Chicago, IL is listed for sale. 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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