5007 N Winchester Avenue

Description

We are pleased to present this multi-family real estate opportunity in the Ravenswood neighborhood of Chicago. The subject property of 5007 North Winchester Avenue is located 7.4 miles north of Chicago's downtown loop area, 1.7 miles west of Lake Michigan, 0.4 miles north of the CTA's Ravenswood Brown Line train station, and 500 feet east of the Damen & Argyle bus 50 stop. The unit mix for the subject property consists of two two-bedroom one-bathroom units that measure 1,000 square feet and one three-bedroom two-bathroom duplex unit that measures 2,300 square feet respectively. The subject property is located on a double lot with the opportunity to add additional units to produce income. The neighborhood of Ravenswood forms the eastern-most boundary of the Lincoln Square community, and is a rather compact area defined by Clark Street to its east, Montrose Avenue to the south, Foster Avenue to its north, and the Chicago River to its west. In addition, the Metra line runs right through the middle of the neighborhood with a stop at Lawrence Avenue, giving residents easy access to Downtown Chicago. Lincoln Avenue is considered the main corridor, but there are other pockets of retail and entertainment venues along some of the arterial streets on Wilson Avenue, Lawrence Avenue, and to some extent along Montrose Avenue. This gives residents numerous places to shop, dine, and be entertained. An investor can take full advantage of this rare double lot real estate opportunity by capitalizing on the prime location of this asset plus the ability to raise current rents, add additional units, and cash flow the property.