1246 N Artesian Ave
1246 N Artesian Ave, Chicago, IL 60622
Marketing description
CRER is proud to exclusively present 1246 N Artesian Ave, a fully gut-renovated 8-unit multifamily asset located in the heart of Chicago's premier West Town neighborhood. This turnkey building features a highly desirable unit mix of predominantly 2-bedroom apartments, each outfitted with modern finishes, updated layouts, and secure digital entry systems, all set on a quiet, tree-lined street.
The property has undergone a comprehensive, top-to-bottom renovation, delivering a truly stabilized asset with immediate in-place cash flow and minimal capital expenditure requirements. Investors benefit from a low-maintenance building with strong operating fundamentals and long-term durability.
Strategically positioned just off the bustling Division Street corridor, the asset is surrounded by some of the city's best dining, nightlife, and boutique retail, while offering seamless access to public transportation. This prime location continues to drive consistent tenant demand and strong rental performance.
Opportunities to acquire a fully renovated, income-producing asset of this caliber in West Town are exceedingly rare. 1246 N Artesian Ave offers investors a compelling blend of stability, location, and long-term upside in one of Chicago's most sought-after rental markets.
Please reach out to the Listing Agent, Ian Luscombe for any questions any questions or tour requests. (312) 477-9181
Investment highlights
- Fully gut-renovated, turnkey asset with minimal capex required
- Stabilized building with strong in-place cash flow
- Desirable unit mix with majority 2-bedroom units
- Located on a quiet, tree-lined street in West Town
- Prime West Town location near Ukrainian Village and Wicker Park
- Close proximity to Division St and Chicago Ave retail corridors
- Strong tenant demand driven by walkability, dining, and nightlife
- Easy access to CTA Blue Line and major transit routes
- Taxes have been successfully appealed, resulting in a significant reduction
- Consistent rent growth and strong rental comps in the immediate area
- Ideal for investors seeking stabilized North Side assets with long-term upside
- Current Gross Income: $214,800
- Pro Forma Gross Income: $230,400
- NOI: $161,927
- Cap Rate: 6.00%
- GRM: 12.12
- Real Estate Taxes: $21,850 (recently reduced via appeal)
- Insurance: $7,698
- Utilities + operating expenses total approx. $54,092 annually
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