Contacts

Chris Van Dinther

Essex 312

Property Details

Property Type Multi-Family
Property Size 4,926 SF
Units 5
Additional Rent Contact for pricing
Year Built 1905
Date Updated Aug 20, 2024

Little Village, or La Villita, is a culturally vibrant neighborhood west of Pilsen in Chicago's West Side. Renowned for its Mexican-American culture, it features a diverse mix of families, creative professionals, and small business owners. The bustling 2-mile-long 26th Street is the neighborhood's heart, lined with cafes, bodegas, restaurants, and art. The iconic arch at 26th Street, welcoming visitors to the "Mexico of the Midwest," symbolizes community pride and heritage. Little Village hosts numerous events, such as the Mexican Independence Day parade and Dia de los Muertos celebrations, reflecting its strong sense of community and tradition. With its rich history and lively atmosphere, Little Village is a unique and integral part of Chicago's cultural landscape.An excellent investment opportunity with this 5-unit brick building, situated on a large double lot 50x125 lot in the heart of Little Village. Four of the five units feature 1 bedroom 1 full bath plus a den/office space and a 2 bedroom 1 full bath. All units are equipped with individual furnaces, ensuring personalized heating controls for each tenant. The building has shared coin operated laundry on the first floor. Current rents are 10-15% below market rate, presenting an opportunity for future income growth. There is a plethora of street parking and a large front yard that is shared by all tenants. This property is a prime opportunity for investors looking to capitalize on steady income in Little Village. Do not miss out!

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Highlights

5-unit brick building, located on a double lot
(4) 1 bed 1 bath plus den and (1) 2 bed 1 bath
Tuckpointed in July 2023, rear deck/porches refurbished in June 2024, vinyl windows
Sewer valve clean out/gutter system in August 2021
2 units renovated in May 2019 and July 2023
Walking distance to Central Park Pink Line

Getting around

80/100
Walk Score ®
63/100
Transit Score ®
80/100
Bike Score ®

Powered by Walk Score ®

City Chicago, IL
Neighborhood Little Village
Zip Code 60623
Market Chicago

Points of Interest

Central Park

0.25 miles
54th/Cermak

2.23 miles
Cicero

2.26 miles
Racine

3.28 miles
Halsted

3.37 miles
Halsted Street

3.46 miles
Western

3.51 miles
Pulaski

3.55 miles
UIC-Halsted (Morgan Street)

3.61 miles
UIC-Halsted (Halsted Street)

3.81 miles

Exxon

0.40 miles
Amstar

0.55 miles
Shell

0.59 miles
Mobil

0.82 miles
Mobil

0.91 miles
BP

1.04 miles
Citgo

1.08 miles
GoLo

1.11 miles
BP

1.13 miles
Shell

1.24 miles

Overflow Parking

1.64 miles
Lot W5

2.13 miles
Trailer Parking

2.15 miles
35th/Archer Park & Ride

2.25 miles
Lot A4

2.32 miles
Lot C4

2.36 miles
Lot A3

2.36 miles
Lot B4

2.39 miles
Lot B2

2.42 miles
Wood Street Parking Structure (WSPS)

2.43 miles

Karavan Motel

1.70 miles
Shamrock Motel

1.93 miles
Cindy Lyn Motel

1.99 miles
Hyatt Place Chicago - Medical / University District

2.61 miles
Hyatt House Chicago - Medical / University District

2.67 miles
Marriott at Medical District/UIC

2.91 miles
Hotel Chicago West Loop

3.01 miles
Carlton Inn Midway

3.26 miles
Crossroads Hotel

3.75 miles
Hyatt House

3.75 miles

Supermercado La Chiquita

0.45 miles
Cermak Fresh Market

0.53 miles
Little Village Discount Mall

0.75 miles
Supermercado La Chiquita

0.76 miles
ALDI

0.94 miles
Walmart Neighborhood Market

1.21 miles
Freshway Market

1.22 miles
Pete's Fresh Market

1.24 miles
Fairplay Foods

1.37 miles
Cermak Fresh Market

1.40 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

2237 South Drake Avenue