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3244 N Sheffield AveChicago, IL 60657
3244 North Sheffield Ave
Asset ClassMultifamily
lakeview multifamily
overview of deal

Overview

Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 3244 North Sheffield Avenue (the “Property”), a 100% leased, urban infill multifamily investment prominently located in Chicago’s Lakeview neighborhood.

 

The ±6,100 square foot, four-story property is situated upon ±3,119 square feet of land and consists of five (5) apartment units; one (1) garden-level two-bedroom / one-bath unit and four (4) three-bedroom / two-bath units across the upper floors. The Property also includes three (3) off street parking spaces.

 

Positioned along Sheffield Avenue in the heart of Lakeview, the Property is one block from the CTA’s 8th busiest station, the Belmont ‘L’ Station, serving the Red, Brown, and Purple lines. The Belmont Station recorded 2,463,000 boardings in 2025. The location is

supported by strong surrounding density, including DePaul University and a large base of young professionals, driving consistent demand for the apartment units. The Property also benefits from immediate access to CTA bus routes #8, #22, and #77, providing connectivity

throughout Chicago.

 

There are several new development projects planned and proposed in the immediate area. Directly across the street at 3233-3247 N Sheffield Avenue is a planned five-story, 99-unit luxury multifamily development totaling more than 101,000 square feet, along with 25 surface parking spaces. The project is expected to include four studios, 46 one-bedroom / one-baths units, and 49 two-bedroom / two-bath units, with delivery targeted for Q3 2027. Additionally, around the corner at 1040 W Belmont Avenue is a proposed five-story, 28-unit mixed-use building with eight parking spaces.

 

The Property is surrounded by a dense retail corridor featuring a mix of national and neighborhood tenants, including Whole Foods Market, Target, Marshalls, Michaels, DSW, Petco, Binny’s, Starbucks, Chipotle, Dunkin’, Jimmy John’s, and Taco Bell. Located less than 0.5 miles south of Wrigley Field, the Property benefits from proximity to one of Chicago’s most active entertainment and retail destinations.

 

The Whole Foods Market located approximately half a mile east of the Property attracts over 1.3 million annual visitors, ranking #1 in visits among all Whole Foods locations in Illinois and placing in the top 3% nationwide. Further reinforcing the strength of the corridor, Whole Foods Market recently signed a new lease at 827 West Belmont Avenue, just a five minute walk southeast of the Property.

 

The surrounding area is supported by strong demographics, including a 1-mile population of over 111,000, an average household income of approximately $139,000, and a median home value exceeding $527,000.

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Investment Highlights

⦿ VALUE-ADD OPPORTUNITY WITH STABLE INCOME

 

⦿ PRIME LAKEVIEW LOCATION

 

⦿ SUPERIOR DEMOGRAPHICS

 

⦿ PROXIMITY TO DEPAUL AND WRIGLEY FIELD

 

⦿ HIGHLY WALKABLE + TRANSIT-SERVED LOCATION

 

⦿ LARGE NEIGHBORING RESIDENTIAL DEVELOPMENTS

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3244 N Sheffield AveChicago, IL 60657
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