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2405 W Hutchinson StChicago, IL 60618
2405 West Hutchinson
Asset ClassMultifamily, Retail, Mixed Use
Loan Size$16.13 M
Square Feet: 64# Units: 49Cap Rate: 5.8%Access Data Room
north center new build mixed use
overview of deal

Overview

Greenstone Partners is pleased to present the opportunity to acquire 2405 West Hutchinson (the “Property”), a 49-unit 2020 constructed mixed-use investment property in Chicago’s heavily populated North Center neighborhood. The building is positioned on the southwest corner of Western Avenue and Hutchinson Avenue, less than 0.6 miles from the Western Brown Line CTA Station.

 

The 64,000 leasable square foot building sits on 23,125 square feet of land. The Property is comprised of forty-three market-rate apartments, one retail tenant, and five affordable apartments. The mix of the apartments features (1) studio ARO unit, (3) 1 Bed/1 Bath ARO units, (1) 2 Bed/2 Bath ARO unit, (11) studio units, (21) 1 Bed/1 Bath units, and (11) 2 Bed/2 Bath units. The apartments feature brand-new quartz countertops, white cabinets, stainless steel appliances, separated HVAC, dishwashers, on-site parking, and laundry in-units.

 

The building features garage parking with two EVs and forty-six standard parking spaces. The Property also features elevator access, an on-site fitness center, digital key fobs, a tenant lounge, a rooftop sun deck with grills, bicycle storage, and much more.

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Investment Highlights

⦿ TURNKEY OPPORTUNITY

 

⦿ ECLECTIC NORTH CENTER NEIGHBORHOOD

 

⦿ MULTIPLE MASS TRANSIT OPTIONS

 

⦿ SUPERIOR DEMOGRAPHICS

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2405 W Hutchinson StChicago, IL 60618
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Listing provided by Revere CRE