4101 W Potomac Ave

4101 W Potomac Ave sits in West Humboldt Park, a dense, established residential pocket on Chicago's West Side, within a block of the West Humboldt Park / Humboldt Park boundary. The property benefits from strong connectivity, with quick access to W Grand Ave, W North Ave, W Division St, and N Pulaski Rd, key arterial corridors linking the neighborhood to the broader West Side and providing multiple bus routes and easy vehicular access into the Loop and surrounding submarkets. The surrounding area is characterized by a mix of vintage brick two-flats, four-flats, and small apartment buildings, reflecting the neighborhood's early-20th-century development and its continued role as an affordable, rental-driven submarket. Nearby Humboldt Park itself, one of Chicago's largest and most historic parks, featuring a lagoon, boathouse, and recreational fieldhouse, anchors the area's green space and community amenities.Essex Three-Twelve is pleased to present 4101 W Potomac Ave, a 6-unit (4 conforming + 2 non-conforming) brick apartment building located in Chicago's West Humboldt Park neighborhood. Built in 1920, the property spans 5,940 net rentable square feet on a 3,276 SF corner lot and offers a diversified unit mix of one 1-bedroom, two 2-bedroom, and three 3-bedroom units, plus a one-car garage. The property is offered at $524,900 ($104,980 per unit), reflecting a 6.43 GRM and an 8.19% cap rate on current income, with projected first-year cash-on-cash returns of 10.59% and total returns of 15.1% (assuming 20% down, 6.5%/30-year financing). Net operating income is currently $42,967 against collected income of $75,888. The offering presents a compelling value-add opportunity: current in-place rents average $1,117/month, roughly 32% below the market average of $1,633/month across the unit mix. Rent comps for comparable 1-, 2-, and 3-bedroom units in the immediate area support mark-to-market upside of 38–55% depending on unit type, giving a new owner a clear path to significantly increase NOI through lease turnover and modest capital improvements. Individually metered electric service and separate mechanicals further support operating efficiency for an incoming owner.