818 North Wolcott Avenue
New Construction / Adaptive Reuse - West Town Stabilized Multifamily
Marketing description
Greenstone Partners, as Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest at 818 N. Wolcott Avenue (the “Property”), a distinguished 20-unit boutique multifamily asset prominently positioned just northwest of the corner of Wolcott and Chicago Avenue, in Chicago’s dynamic East Village / West Town neighborhood. This offering represents a rare opportunity to acquire an architecturally significant, institutionally maintained asset in one of Chicago’s most sought-after residential corridors.
The Property is the product of a thoughtful adaptive reuse of an existing foundry building combined with a purpose-built contemporary three-story addition — creating a distinctly curated collection of residences that cannot be replicated. The foundry structure delivers expansive timber loft residences featuring exposed masonry and soaring 15-foot ceilings, while the modern addition offers sleek, function-forward floorplans finished to the same premium standard. Together, the two structures provide a diverse and highly marketable residential units.
The Property offers an attractive unit mix comprising of one (1) 1 Bed / 1.5 Bath duplex unit, sixteen (16) 2 Bed / 2 Bath units, and (3) 3 Bed / 3.5 Bath duplex residences. Each unit is finished to a premium standard featuring hardwood flooring, stainless steel appliances, quartz countertops, large kitchen islands, and in-unit laundry. Select residences offer additional features including exposed brick, oversized walk-in closets, and private terraces. Parking is available on-site, and the Property features an amenitized outdoor courtyard with a beer garden-style gathering area, grills, and outdoor furniture.
Situated steps from the Chicago Avenue dining and retail corridor and 0.9 miles from the Division Blue Line, 818 N. Wolcott Avenue offers residents unmatched walkability and transit connectivity within minutes of downtown Chicago. The surrounding East Village submarket is defined by consistent rental demand, low vacancy, and a concentration of Chicago’s most established dining, retail, and entertainment destinations.
With a one-of-a-kind architectural identity, premium finishes, and a location at the heart of West Town, 818 N. Wolcott Avenue is purpose-built for durable occupancy and long-term value retention. This offering is ideally suited for an investor seeking stable, institutionally positioned cash flow and lasting value creation in one of Chicago’s most competitive submarkets.
Investment highlights
TURNKEY OPPORTUNITY The Property is fully stabilized and represents a turnkey opportunity for a new investor. Additionally, investors can raise rents across all layouts by over 9% to the market rate with minimal extra capital expenditure.
NEW CONSTRUCTION + ADAPTIVE REUSE APARTMENTS The Property consists of three (3) 3 Bed/3.5 Bath duplex, one (1) 1 Bed/1.5 Bath duplex, nine (9) 2 Bed/2 Bath and seven (7) large 2 Bed/2 Bath apartments. The modern new-construction apartments are 101-104 and 201-204; the foundry units are 105-110 and 205-210.
DYNAMIC WEST TOWN NEIGHBORHOOD Located one block south of Chicago Ave, the Property benefits from its location near a bustling retail corridor that includes national and local retailers such as Lush Wine & Spirits, Beatnik, Forbidden Root Restaurant and Brewery, Opart Thai House, Arami, Root’s Pizza, West Town Bakery and Chicago Public Library.
EXCEPTIONAL ACCESS TO PUBLIC TRANSIT The Property is located next to many public transit options. Conveniently located 0.2 miles East of the Kennedy Expressway, renters can swiftly get to Chicago’s downtown ‘Loop’ and suburbs. The CTA Blue Line ‘L’ stops at Chicago Ave 0.2 miles north of the Property, which takes riders to O’Hare International Airport, the ‘Loop,’ and the western suburbs. CTA bus routes #56 (3.52M annual riders) and #66 (3.19M annual riders) run on Ashland Ave and Chicago Ave, respectively, within walking distance of the Property.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
