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1045 N California AveChicago, IL 60622
1045 N. California Avenue
Asset ClassMixed Use, Multifamily
overview of deal

Overview

Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1045 N. California Ave. (the “Property”), a four-unit mixed-use building prominently positioned along the thriving California Avenue commercial corridor in Chicago’s Smith Park neighborhood. Built in 2007 to capture demand for luxury condominiums, the Property provides investors with a modern, well-located asset in one of the city’s most desirable and growing submarkets.

 

The unit mix consists of two (2) oversized 1,700 SF 3 Bed / 2 Bath layouts, One (1) 2,000 SF 3 Bed / 2 Bath + Den penthouse, and one (1) 1,700 SF ground-floor commercial tenant: Humboldt House. Humboldt House is a long term tenant known for selling trendy boutique home decor. All utilities are separately metered and paid directly by tenants. The residences feature high-end, condo-quality finishes with 12 foot ceilings, expansive front and rear facing private balconies, floor to ceiling windows, and direct-vent gas fireplaces. Kitchens are equipped with modern luxury cabinetry, stainless steel appliances, dishwashers, and granite countertops. Each apartment is further appointed with hardwood floors, in-unit laundry, and designer bathroom finishes. The penthouse offers private rooftop access with a versatile office/ den and sweeping views of downtown Chicago.

 

The property includes three parking spaces in rear, two of which are tandem, offering potential for additional rental income.

 

This rare offering combines exceptional craftsmanship with expansive layouts that stand out in the market. The property also presents an attractive opportunity for an owner-occupant seeking to offset living expenses. 1045 N. California represents a compelling opportunity for long-term growth and value creation.

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Investment Highlights

⦿ PRIME SMITH PARK LOCATION

 

⦿ MINIMAL CAPITAL REQUIREMENTS - TRUE TURNKEY OPPORTUNITY

 

⦿ OVERSIZED THREE-BEDROOM / TWO-BATH LAYOUTS

 

⦿ HIGH-END CONDO-QUALITY FINSHES THROUGHOUT

 

⦿ ALL UTILITIES SEPARATELY METERED AND TENANT-PAID

 

⦿ EXPANSIVE PRIVATE FRONT BALCONIES

 

⦿ CURRENT RENTS WELL BELOW MARKET - SIGNIFICANT UPSIDE

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1045 N California AveChicago, IL 60622
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