Essex Three-Twelve Lists 5-Unit Portage Park Apartment Building
CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Three-Twelve, LLC announced it has been exclusively engaged to market for sale 4241 N. Laramie Avenue, a 5-unit apartment building located in the heart of Chicago’s Portage Park neighborhood.
The building was built in 1922 and consists of four legal 2-bed/ 1-bath units and an additional non-conforming garden unit that could provide further income. The apartments feature hardwood floors, laminate countertops, and a mix of white/stainless steel appliances. All units have boiler heat (with the exception of unit 2N, which has individual HVAC), and three of the units also include an enclosed porch. There are also three surface parking spots. With strong existing rental income and room for value-add improvements, this asset presents a compelling case for both seasoned and first-time investors seeking high returns.
The property is located just north of Irving Park Road west of Milwaukee Ave. and is conveniently located one mile from both the Montrose Blue Line and multiple bus routes. 4241 N Laramie sits in a prime and highly walkable location with easy access to a variety of restaurants, bars, and entertainment near the famous Six Corners intersection.
Essex 312 Associate Chris Van Dinther is representing the seller of the property. According to Van Dinther, “4241 N Laramie offers a great opportunity for an owner occupant or investor looking to start their investment journey or add to their existing portfolio. It presents the stability of in-place rents with the upside to increase income over time in a very desirable area of Portage Park.”