For Sale $3,450,000
Property Type Multi-Family
Property Size 11,975 SF
Units 22
Lot Size 6,047 Acre
Parking Spaces Avail. 10
Date Updated Aug 28, 2023

.On the boarder of Wicker Park and East Humboldt Park, 1513 N Western Ave sits in the heart of one of Chicago's most dynamic, speculative real estate markets. With 7%-12% rent increases YOY since 2012 (according to DOMU) investors have been infusing the neighborhood with capital, in an effort to supply the lucrative housing demand. The property’s dwelling units are a mix of eight (8) 1-bedroom units and four (4) 2-bedroom units including two (2) lofted units. The dwelling units all have one bathroom, thirteen foot high ceilings (some as high as sixteen feet), in-unit laundry and range in size from 500 SF to as large as 1354 SF. Deeper evaluation of zoning, structure/foundation and expected legislative changes indicate an opportunity to add multiple stories to the existing property to accommodate a maximum of seventeen (17) additional dwelling units for a total of twenty-nine (29) dwelling units on up to three additional stories.

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Highlights

Significant ‘value-add’ opportunity with TOD bonuses and/or up-zoning (B2-3 to B2-5)
Retail space on first floor, ½ story above grade, approx. 3000 rent-able SF
Current Retail; nine (9) artist studios approx. 250SF and one (1) Gallery/Office
Best/Highest use; Healthcare/Professional, ABB
Twelve (12) rent-able dwelling units, Laundry In-Unit, 13ft ceilings
Tenant-paid utilities
Parking; ten (10) total spaces, seven (7) spaces below grade, three (3) adjacent spaces
Upgraded copper plumbing and electric service

Contacts

Ben Smith

33 Realty

(612) 616-6033

Location

Getting Around

Walk Score ®
94/100 Walker's Paradise
Transit Score ®
67/100 Good Transit
Bike Score ®
89/100 Very Bikeable

Map
Street

City Chicago, IL
Neighborhood Wicker Park
Zip Code 60622
Market Chicago

Points of Interest

Damen

0.48 miles
Western

0.48 miles
California

1.05 miles
Division

1.08 miles
Clybourn

1.11 miles
Western Avenue

1.38 miles
Kedzie

1.77 miles
California

1.78 miles
Chicago

1.85 miles
Logan Square

1.87 miles

Shell

0.11 miles
BP

0.68 miles
Mobil

0.70 miles
BP

0.79 miles
Shell

0.85 miles
Shell

0.87 miles
Shell

0.97 miles
BP

1.01 miles
BP

1.08 miles
Marathon

1.08 miles

1628 W Division

0.98 miles
Liberty Bank Customer Parking

1.25 miles
City of Chicago Auto Pound #6

1.31 miles
Bus Parking

1.93 miles
A

1.96 miles
Club/Premium

1.97 miles
Steppenwolf Garage

1.98 miles
C Suites

1.99 miles
G

2.02 miles
f

2.03 miles

IHSP Chicago Hostel

0.50 miles
Urban Holiday Lofts

0.51 miles
Ray's Bucktown Bed & Breakfast

0.87 miles
Holiday Jones

0.92 miles
Hyatt Place Chicago / Wicker Park

1.01 miles
Alexandra's place

1.23 miles
Fullerton Hotel

2.23 miles
Hotel Chicago West Loop

2.36 miles
Hyatt House

2.42 miles
Chicago Getaway Hostel

2.51 miles

China Station

0.09 miles
Cup & Spoon

0.10 miles
Rangoli

0.10 miles
Handlebar

0.11 miles
Thai Lagoon

0.11 miles
Runa Japanese

0.14 miles
Hash Chicago

0.17 miles
Bulerias Tapas Bar

0.18 miles
Dunkin'

0.18 miles
Subway

0.20 miles

Josephinum Academy of the Sacred Heart

0.14 miles
Puerto Rican High School

0.23 miles
Sabin Magnet Dual Language School

0.23 miles
Jose de Diego Community Academy

0.25 miles
Former Von Humboldt Elementary School

0.33 miles
Roberto Clemente Community Academy

0.38 miles
Saint Fidelis School

0.40 miles
Pritzker Elementary School

0.47 miles
Saint Mary of Nazareth Hospital School of Nursing

0.53 miles
Humboldt Park Vocational Education Center

0.54 miles

North Avenue Day Nursery

0.47 miles
Rainforest Pre-School & Infant Center

1.61 miles
A-Karrasel Child Care Center

1.73 miles
La Escualita Daycare

1.77 miles
Kangaroo Korner Learning Center

1.78 miles
Little Bird Prep

1.84 miles
Diversey Day Care

1.89 miles
Stepping Stones

1.99 miles
Peachtree Nursery and Preschool

2.11 miles
Little Einsteins

2.12 miles

Frequently Asked Questions

What is the lease rate for 1513 N Western Ave?

Rental asking rate at 1513 N Western Ave is $1,725,000.00/YR.

What is the total square footage of 1513 N Western Ave?

1513 N Western Ave totals 11,975 square feet.

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