Essex Three-Twelve Sells Rare 6-Unit Apartment Building in Little Italy
CHICAGO, ILLINOIS– Chicago Commercial Real Estate firm Essex Three-Twelve, LLC is pleased to announce the sale of 1037 W Polk Street, a charming greystone apartment building located in the heart of Little Italy – one of Chicago’s oldest and most established neighborhoods.
This rarely available multifamily asset is comprised of 6 units, including one 1 Bed/1 Bath, two 2 Beds/1 Bath, two 3 Beds/ 1.5 Baths, and one 4 Bed/ 1.5 Baths apartments. Unit features include hardwood floors, stainless steel or white kitchen appliances, laminate countertops, central HVAC, in-unit laundry. The rear units also enjoy access to outdoor decks. Recent building improvements include a full renovation of one unit featuring elevated kitchen finishes, as well as a new silver roof coating applied in 2021.
Positioned on the south side of West Polk Street just east of South Carpenter Street, 1037 West Polk is nestled in arguably the most sought-after section of Little Italy. The building sits just blocks from numerous University of Illinois Chicago (UIC) facilities, making it highly attractive for both students and university-affiliated tenants. Additionally, the property’s proximity to the UIC-Halsted and Polk CTA stations, as well as the 90/290 expressways, ensures convenient access for working professionals commuting across the city. Little Italy is a culturally rich, dynamic neighborhood known for its deep-rooted history, walkability, and vibrant food scene that drive strong rental demand and long-term investment interest.
This transaction showcases a the rare opportunity to acquire a stabilized, well-located multifamily asset in one of Chicago’s most tightly held submarkets, underscoring continued investor demand for centrally located properties and reinforcing Little Italy’s enduring appeal as one of the city’s most desirable rental markets.