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2419 W Erie StChicago, IL 60612
2419 W. Erie Street
Asset ClassMultifamily
Urban Chicago Newer Construction Multifamily
overview of deal

Overview

Greenstone Partners, as Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 2419 W. Erie Street (the “Property”), a nine-unit, newer-construction elevator building prominently situated at the corner of Western Avenue and Erie Street. Originally delivered in 2008 as luxury condominiums, the Property has since been deconverted and repositioned as a high-end multifamily rental asset.

 

The Property features nine (9) three-bedroom, two-and-a-half-bath units with open floor plans. All utilities are separately metered and paid directly by tenants, reducing operating costs. Residences are finished with hardwood flooring, gas fireplaces, private balconies, in-unit laundry facilities, and marble baths featuring Jacuzzi tubs. Kitchens are equipped with quartz countertops, stainless steel appliances, and dishwashers. Residents also benefit from access to a shared rooftop deck and heated garage parking.

 

Building systems include copper plumbing, high-performance windows, individual furnaces with central air conditioning, separate hot water heaters, and separately metered electric. The Property also features a newer flat roof and elevator. Additional amenities include dedicated outdoor balconies for all units, a rooftop deck, and 22 heated garage spaces, which provide an additional source of income.

 

With spacious layouts, durable finishes, and below-market rents, the Property offers investors significant upside through rent growth. Supported by strong neighborhood demand, light operating expenses, and minimal capital requirements, 2419 W. Erie Street represents a compelling opportunity for long-term stability and value creation.

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Investment Highlights

⦿ HIGHLY DESIRABLE SMITH PARK LOCATION

 

⦿ NEWER CONSTRUCTION APARTMENTS

 

⦿ OVERSIZED THREE-BEDROOM / TWO-AND-A-HALF-BATH LAYOUTS

 

⦿ EXCEPTIONAL ACCESS TO PUBLIC TRANSIT

 

⦿ STRONG DEMOGRAPHICS

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2419 W Erie StChicago, IL 60612
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Listing provided by Revere CRE