1216 Diversey PkwyChicago, IL 60614

This exceptional 4-unit apartment building, totaling 7,000 square feet, presents a compelling investment opportunity in Chicago's desirable Lakeview/Lincoln Park neighborhood. Built in 1923 and extensively renovated in 2012, the property boasts a prime location at the six-corner intersection of Diversey Parkway and North Lincoln Avenue, offering two street frontages. The unit mix consists of three 3-bedroom, 1-bathroom apartments, each featuring updated kitchens with granite countertops and stainless steel appliances, as well as individual HVAC and hot water tanks. The ground floor houses a well-established taproom, Beermiscuous, which has occupied the space since 2013 and has a remaining lease term of five years with a 3% annual rent increase. This retail space features high ceilings, modern tiling, and hardwood floors. Apartment rents are currently 12% below market value, presenting a significant opportunity for immediate rental income growth. The property's strategic location offers exceptional convenience, with proximity to the Diversey CTA Brown/Purple Line (0.3 miles), Lake Michigan (0.1 miles), and DePaul University (0.5 miles). This combination of strong tenant occupancy, below-market rents, and a highly desirable location makes this a truly exceptional investment opportunity in a consistently strong Chicago market.