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About the Listing 88601 - 1014560,176160
Legal 4-unit building on a quiet, tree-lined street in the heart of Ukrainian Village/Wicker Park, offering a rare combination of strong in-place income with clear upside potential. The property consists of two front and two rear units, including three 2 bed/1 bath layouts and one 1 bed + den/1 bath, all thoughtfully maintained and continuously upgraded by ownership. Each unit features hardwood floors, stainless steel appliances, granite countertops, dishwashers, central HVAC, and in-unit laundry. Bedroom layouts are well-proportioned, comfortably accommodating queen-sized beds with additional furniture. Significant capital improvements include updated windows, refreshed interiors across multiple units, electrical updates to HVAC systems, and a recently sealed roof. Current owners continued to make additional improvements which include: Owners unit (#4) had a full bathroom remodel, pantry and linen closet installed, new washer and dryer, refreshed kitchen cabinets and updated electrical. Unit 2 had a kitchen refresh, cabinets painted, new washer and dryer installed, and pantry installed. Bathroom was also updated with new fan / extractor. Overall Building improvements include all ACs had their electrical updated, roof had new sealant layer installed, and repaired brick chimney. With lease expirations approaching, a new owner could reset rents and drive meaningful income growth post ownership. With lease expirations from June through September, new ownership is well-positioned to drive rental increases-either through renewals or new leasing-during Chicago's peak rental season in a highly sought-after location The building also features a large, full unfinished basement with additional coin-operated laundry and potential for further value creation, including duplex-down opportunities for the first-floor units. A brick 1.5-car garage (deep configuration) provides additional income or tenant convenience. Ideally located just steps from West Town's top dining, cafes, and retail, with convenient access to public transportation, expressways, and a short commute to the Wicker Park/Bucktown, West Loop and Fulton Market.
Listing Highlights
Status
Pending
Days on Site
16
Property Type
Multi-Family
MLS ®
12603130
Year Built
1914
Total Square Footage
0
Lot/Acreage
25X125
Interior Details
- Bedrooms: 7
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Unfinished,Full
- Other:
- Water: Lake Michigan
Exterior Details
- Garage Capacity: 1 car
- Parking Spaces: 1
- Lot Dimensions: 25X125
- Roof: Rubber
- Others:
- Sewer: Public Sewer
- Parking Features: Garage Door Opener,Yes,Garage Owned,Detached,Garage
Financial Details
- Tax Amount: $16,927
- Taxes w/Assessments: N/A
- Tax/Property ID: 17064340230000
- Tax Year: 2024
Payment Calculator
Monthly Payment
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Questions About..
856 N Wolcott Ave Chicago, IL 60622
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