Multifamily
5019 North Ashland Avenue
5019 N Ashland Ave, Chicago, IL 60640
Listing Price: $2,700,000
Investment Overview
INVESTMENT OVERVIEW
LARGE-SEVEN UNIT APARTMENT BUILDING IN UPTOWN
Marcus & Millichap is pleased to present 5019 N Ashland Avenue, a boutique, renovated seven-unit apartment building located on the Northwest edge of Uptown, and just South of Andersonville in Chicago, Illinois. Originally constructed in 1908 and renovated in 2018, the property offers an ideal blend of historic charm and modern finishes, paired with large units, significant rental upside, and attractive assumable debt.
PROPERTY OVERVIEW
• Asking Price: $2,700,000
• Year Built / Renovated: 1908 / 2018
• Unit Mix: Seven Apartments
o Five Three-Bedroom / Two-Bathroom Apartments
o Two Two-Bedroom, One-Bathroom Apartments
• Net Operating Income: $161,949
• Capitalization Rate: 6.00% / 6.55%
• Gross Rent Multiplier: 11.56 / 10.77
• Assumable Financing:
o Outstanding Loan Balance (10/1/2025): $1,590,539
o LTV: 59%
o Interest Rate 5.08%
o Maturity: 8/1/2030
• Assumption Not Required
MARKET AND LOCATION ADVANTAGES
Andersonville remains one of Chicago’s most resilient rental markets, characterized by low vacancy, strong demographic trends, and a high concentration of boutique retail, dining, and cultural amenities. The property benefits from immediate access to:
• Clark Street’s vibrant retail and entertainment corridor
• Multiple CTA bus lines and the Red Line
• Parks, grocery stores, and lakefront access
• Proximity to Lake Shore Drive and downtown Chicago
5019 North Ashland Avenue
Investment Highlights
- Extensive 2018 renovation including modern kitchens with stainless steel appliances, updated bathrooms, in-unit laundry, and hardwood flooring throughout.
- Favorable assumable debt allows enhances the investment return potential.
- Current rents are below market, providing a clear opportunity to organically increase revenue through rental increases, with minor unit enhancements.
Exclusively Listed By
Listing Price: $2,700,000
Investment Highlights
- Extensive 2018 renovation including modern kitchens with stainless steel appliances, updated bathrooms, in-unit laundry, and hardwood flooring throughout.
- Favorable assumable debt allows enhances the investment return potential.
- Current rents are below market, providing a clear opportunity to organically increase revenue through rental increases, with minor unit enhancements.
Investment Overview
INVESTMENT OVERVIEW LARGE-SEVEN UNIT APARTMENT BUILDING IN UPTOWN Marcus & Millichap is pleased to present 5019 N Ashland Avenue, a boutique, renovated seven-unit apartment building located on the Northwest edge of Uptown, and just South of Andersonville in Chicago, Illinois. Originally constructed in 1908 and renovated in 2018, the property offers an ideal blend of historic charm and modern finishes, paired with large units, significant rental upside, and attractive assumable debt. PROPERTY OVERVIEW • Asking Price: $2,700,000 • Year Built / Renovated: 1908 / 2018 • Unit Mix: Seven Apartments o Five Three-Bedroom / Two-Bathroom Apartments o Two Two-Bedroom, One-Bathroom Apartments • Net Operating Income: $161,949 • Capitalization Rate: 6.00% / 6.55% • Gross Rent Multiplier: 11.56 / 10.77 • Assumable Financing: o Outstanding Loan Balance (10/1/2025): $1,590,539 o LTV: 59% o Interest Rate 5.08% o Maturity: 8/1/2030 • Assumption Not Required MARKET AND LOCATION ADVANTAGES Andersonville remains one of Chicago’s most resilient rental markets, characterized by low vacancy, strong demographic trends, and a high concentration of boutique retail, dining, and cultural amenities. The property benefits from immediate access to: • Clark Street’s vibrant retail and entertainment corridor • Multiple CTA bus lines and the Red Line • Parks, grocery stores, and lakefront access • Proximity to Lake Shore Drive and downtown Chicago
Exclusively Listed By
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