Investment Overview

Marcus & Millichap is pleased to present this multifamily investment opportunity at 3325 North Sheffield Avenue, located in the prime Lakeview neighborhood of Chicago, just steps from the intersection on Clark Street. Positioned 5.9 miles north of downtown, 1.1 miles west of Lake Shore Drive, and an eight-minute walk to Wrigley Field, this property offers unparalleled accessibility. The Belmont Red, Purple, and Brown Line train station is conveniently located within a five-minute walk, ensuring an easy commute downtown for tenants. 3325 North Sheffield Avenue comprises five spacious legally conforming units; four three-bedroom, two-bath apartments and one three-bedroom, one-bath apartment ranging from 1,000 to 1,600 square feet. Each unit provides generous living space and contemporary amenities including fireplaces, dishwashers, making them highly attractive to renters. The subject property features tandem parking in the rear, a significant amenity for residents of Lakeview near Wrigley Field. This investment offers significant upside potential, with well-below-market rents and month-to-month leases in place. Investors can capitalize on immediate income growth by re-negotiating or re-leasing the units to market levels upon purchase, as-is. Additional opportunities for value enhancement are presented through minor cosmetic updates, strategic improvements, and continued rent increases, to take advantage of the rising rental rates and appreciation that are inherent in this submarket. Situated in the heart of Lakeview East, residents enjoy proximity to an eclectic mix of shops, restaurants, bars, and the picturesque lakefront. The neighborhood’s lively ambiance is complemented by iconic attractions such as historic Wrigley Field, live music venues, and seasonal street festivals, making it one of Chicago’s most sought-after communities.