1731 W Potomac Avenue
Chicago, IL, 60622 $ 1,725,000
Bedrooms5 Baths0.0 Sq 4,500 Monthly Estimate*
$ 10,621
for $1,725,000 with 5 bedrooms. This 4,500 square foot home was built in 1890 on a lot size of 0.052801.
Turnkey, fully renovated 5-unit apartment building in the heart of Wicker Park - one of Chicago's most sought-after neighborhoods. Gut rehabbed in 2021 with high-end finishes throughout, this 7 bed / 6 bath building is a rare, low-maintenance investment opportunity ready to perform from day one. The building consists of the following: 1 bed/1 baths (2), 1 bed/1 bath plus den (1), 2 bed/1 bath (1), and a tri-level 2 bed/2 bath with bonus storage (1). Each unit features in-unit laundry, new appliances (dishwasher, oven/range, refrigerator), custom cabinetry, custom closets, grey wood finish floors, designer lighting, and smart home amenities including a Ring doorbell and Nest thermostat. Units boast generous storage, and the building offers additional storage in the attic. All units are individually metered for utilities, keeping operating costs lean and management simple. The units themselves get plenty of sun in the front and thoughtfully laid out - several feature a flexible office nook or secondary bedroom, beautiful barn doors, and pantry storage that sets them apart from typical rental stock. The location is unmatched. Steps from the Division Blue Line, Division Street's bar and restaurant corridor, Jewel, Target, a Divvy station, and a neighborhood community garden - tenants have everything they need within a 5-minute walk. This building offers investors a truly low-overhead, high-demand asset in a neighborhood that consistently commands strong rents and minimal vacancy.
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FeaturesGeneralCooling Central Air
Construction Materials Brick
Year Built 1890
Electric Circuit Breakers Separate Meters
Tenant Pays Air Conditioning Electricity Heat
Stories Count 2
Township West Chicago
Tax Year 2024
Current Use Multi-Family
Gross Income 156300
County Cook
Net Operating Income 104540
Operating Expense 53960
Insurance Expense 4854
Property Type Commercial Sale Multi Family 5+
MaintenanceExpense 2000
Status Active
Directions West on Division North on Wood East on Potomac
City Chicago
Number Of Units Total 5
MLS Area CHI - West Town
Lot Size Square Feet 2300
Tax Annual Amount 30608
Electric Expense 765
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 5682
Additional Parcels Y/N N
Standard Status Active
Cap Rate 6.1
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ExteriorWater Source Municipal Water
Building Area Total 4500
Lot Dimensions 23X100
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $10,621
- Monthly Property Taxes
- $2,551
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Chicago, IL
Average List Price $620,278
Percent of Sale Price 64%
About Chicago, IL 2,755,380 Population
-4% Since 2002
$ 53,088 Median Income
36.07 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 3/30/2026 | $1,725,000 | | Listed Price |