1422 Milwaukee AveChicago, IL 60622

Property Details for 1422 Milwaukee Ave

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional mixed-use property in Chicago's vibrant Wicker Park neighborhood presents a compelling investment opportunity. Located at 1422 N Milwaukee Ave, this stabilized investment boasts a 7.07% cap rate and a strong net operating income (NOI) of $529,904. The building comprises 23 units: prime retail space on the ground floor and 20 desirable loft apartments above. The apartments, a mix of studios and one-bedrooms, feature modern amenities including exposed brick, subway tile, custom cabinetry, in-unit laundry, glass-enclosed rain showers, bike storage, and limited on-site parking. The building sits on an 8,664 square foot lot and was renovated in 2019. Its B3-3 zoning designation allows for a variety of uses. This property benefits from its location in the heart of Wicker Park's coveted retail corridor along Milwaukee Avenue, ensuring high occupancy rates for both retail and residential tenants. The asking price is $7,500,000. The property's APN is 17-06-216-095. This is a rare chance to acquire a well-maintained, high-performing mixed-use asset in a highly sought-after Chicago location.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9077

Longitude

-87.6737

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