Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1422 N. Maplewood Ave. (the “Property”), a three-unit multifamily building located in the East Humboldt Park neighborhood of Chicago. Built in the late 90s, the property offers modern building systems and has been under the same passive ownership for the past decade, with rents remaining well below market.

The unit mix consists of one (1) 2 Bed / 2 Bath apartment and two (2) spacious 3 Bed / 2 Bath layouts. The first-floor 2 Bed unit was originally part of a 5 Bed / 4 Bath duplex-down, later reconfigured to create an additional non-conforming 3 Bed / 2 Bath Garden unit that generates supplemental income. Each apartment features hardwood flooring throughout and gas fireplaces. Kitchens and bathrooms have been moderately updated with wood cabinetry, granite countertops, and white appliances. The penthouse is further distinguished by vaulted ceilings with skylights and a private stairwell entry.

Property highlights include individual furnaces with central air, separately metered electric, individual hot water heaters, copper plumbing, a steel porch system, and a well-maintained pitched shingle roof. The Property also offers building-owned, coin-operated laundry in the basement and a three (3) car garage, providing a new owner with additional income potential. Units 2 and 3 pay their own utilities, while the owner covers utilities for the first floor and non-conforming garden unit.

The current rents are significantly undervalued and offer multiple investment strategies. A new buyer can capitalize by operating the building as-is while bringing rents to market. Additional upside can be achieved through cosmetic upgrades to reach top-of-market rents or by utilizing Chicago’s ADU program (Northwest Pilot Zone) to legalize the garden apartment. This is a rare opportunity for both investors seeking cash flow and appreciation, and for owner-users looking to offset living expenses with rental income.