Premier West Town Corner Building
1859 W Chicago Ave
Chicago, IL 60622
Highlights
- Excellent West Town signalized corner location
- Stabilized asset with a strong tenant mix and room for rent growth
- Highly desirable brick building
- Fully rehabbed armchair investment
- Located within the Chicago Avenue T.O.D boundaries
- Highly stable retail tenant (Veterinarian Office) with long- term lease
- This property is owned by an Illinois Real estate broker
Description
1859 W Chicago Ave is a ±9,267 SF mixed-use building located on the corner of Chicago and Wolcott Avenues in the heart of Chicago’s Ukrainian Village neighborhood. The property is fully occupied by seven (7) tenants; Ukranian Village Veterinary Center on the first floor, and six (6) residential units on the second through fourth floors. All units were fully rehabbed in 2020.
This signalized corner location is surrounded by strong neighborhood retail including Roots Pizza, West Town Bakery, and Cleo’s Bar. The property is also just 2 blocks from the neighborhood grocery store, Mariano’s. This stabilized property is ideal for an investor looking to enter the growing West Town/Ukrainian Village sub-market. This property is owned by an Illinois Real estate broker.
The West Town area of Chicago is bordered by Wicker Park, East Village, Noble Square and Ukrainian Village. Originally occupied by Ukrainian immigrants in the early 1900s this neighborhood has long been a stable community and has flourished in recent years. Tree-lined streets; strong housing stock and its proximity to Chicago’s downtown have made this neighborhood a favorite choice to Chicago’s residents. Online real estate website Redfin.com even named Ukrainian village the hottest neighborhood in the nation in 2016.
The West Town Retail Corridor located on Chicago Avenue is the main retail corridor in the neighborhood. Many retail stores restaurants and service retail businesses operate on Chicago Avenue which contributes to the neighborhoods desirability and charm.
Chicago Avenue is proving itself to be a dining destination with one restaurant Vajra added to the 2021 Michelin Bib Gourmand list and newcomer Porto receiving one Michelin Star.
