Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 2650 W. Touhy Ave. (the “Property”), a six-unit multi-family building located in the West Ridge neighborhood of Chicago. The property has been under the same ownership for over 27 years, with consistent maintenance and targeted capital improvements.

The unit mix consists of two (2) 1 Bed / 1 Bath and four (4) 2 Bed / 1 Bath apartments. Units feature hardwood flooring and standard rental-grade finishes in the kitchens and bathrooms. Key property improvements include: separately metered electric with a 200-AMP main service; four (4) individual boilers and two (2) forced-air furnaces, allowing for tenant-paid heat and cooking gas; a Bock hot water heater replaced in 2019; vinyl windows; new coin operated laundry machines, including a washer replaced in 2022 and dryer in 2021; tuckpointing completed in 2024; a replaced front door awning (2021); new gutters installed in 2022 (currently under warranty); and a new chimney added in 2022.

The property also features five (5) tandem parking spaces, offering potential for additional income, as well as designated storage lockers for each apartment, a valuable tenant amenity.

While the property has consistently attracted long-term tenants and benefits from strong neighborhood fundamentals, its current operations have not kept pace with West Ridge’s market growth. Rents remain significantly below market, presenting a clear value-add opportunity. A new owner can capitalize by operating the building as-is while gradually bringing rents to market, monetizing the rear parking, and modernizing kitchen and bathroom finishes to further enhance rental income. With a desirable unit mix and sustained demand for housing in the area, the property offers a compelling opportunity for long-term upside.