Multifamily
616 - 618 West Patterson Avenue
616 W Patterson Ave, Chicago, IL 60613
Listing Price: $1,800,000
Investment Overview
Marcus & Millichap is pleased to present 616-618 West Patterson Avenue, located in the Lakeview neighborhood of Chicago, Illinois. The subject property contains six parcels, one of which is a duplex unit. There is also an additional janitor’s unit in the garden unit. There are five three-bedroom units, one two-bedroom unit, and the duplex apartment has five bedrooms.
The zoning is RM-5 which provides a FAR of 2x and would permit the development of up to 15 residential units. Alternatively, significant upside could be realized through the modernization of the existing units.
The subject property has an excellent Lakeview location directly off North Broadway, and less than a block from Halsted. The subject property is a two-minute walk to Chicago Transit Authority’s (CTA) 36 bus stop, and a five-minute walk to CTA’s 152 and 8 bus stops. This area has an incredibly high foot traffic due to major retail tenants along with neighborhood bars and restaurants
Exclusively Listed By
Listing Price: $1,800,000
Investment Highlights
- Irreplaceable Lakeview Location
- Six Individually Pinned Units Plus Janitor's Unit
- Zoned RM-5
- Value-Add Opportunity through Renovation or New Construction
- Large Backyard for Tenant Use
Investment Overview
Marcus & Millichap is pleased to present 616-618 West Patterson Avenue, located in the Lakeview neighborhood of Chicago, Illinois. The subject property contains six parcels, one of which is a duplex unit. There is also an additional janitor’s unit in the garden unit. There are five three-bedroom units, one two-bedroom unit, and the duplex apartment has five bedrooms. The zoning is RM-5 which provides a FAR of 2x and would permit the development of up to 15 residential units. Alternatively, significant upside could be realized through the modernization of the existing units. The subject property has an excellent Lakeview location directly off North Broadway, and less than a block from Halsted. The subject property is a two-minute walk to Chicago Transit Authority’s (CTA) 36 bus stop, and a five-minute walk to CTA’s 152 and 8 bus stops. This area has an incredibly high foot traffic due to major retail tenants along with neighborhood bars and restaurants
Exclusively Listed By
