4832 N Winthrop AVE Chicago, IL 60640

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

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Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 12430995

Maintenance Fees $1,500

Year Built 1901

Annual Tax Amount $17,090

Tax Year 2023

Lot Dimensions 4966

Property Sub-Type Multi Family 5+

Property Description

Rare opportunity to acquire a renovated multifamily building in the heart of Uptown, one of Chicago's most vibrant and transit-oriented neighborhoods. Renovated in the past 10 years, the property features six modern residential units with individual HVAC and efficient layouts. This investment offers stable income with significant immediate upside for the next owner. The partially finished basement also provides the potential for a 7th unit as a 2-bedroom accessory dwelling unit (ADU). In-place rents are below market averages, promising substantial upside. With the grand reopening of the Lawrence Red Line station after a four-year, multibillion-dollar reconstruction, tenant demand is expected to rise significantly. The improved accessibility to public transportation, combined with the property's proximity to Uptown's entertainment district and lakefront amenities, positions it perfectly for strong rent growth potential and long-term appreciation. The building is ideally situated next to a brand-new public park and steps from iconic venues like the Aragon Ballroom, Riviera Theatre, and Green Mill Lounge. The popularity of these venues drives consistent demand for off-street parking, creating an additional income opportunity via platforms like SpotHero. The neighborhood's walkability, easy access to Lake Shore Drive, and thriving retail and dining scene make this a prime investment opportunity.

Location

State IL

County Cook

Area Chi - Uptown

Interior

Cooling Window Unit(s)

Fireplace N

Building

Dwelling Type Multi Family 5+

Structure Type Brick

Listed by Matthew Fritzshall • Triton Realty Group LLC

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106