2405 W. Hutchinson St. and 1509 N. Western Ave. Hit the Market
Chicago, IL. (October 28, 2024) — Greenstone Partners is excited to announce the marketing of 2405 W. Hutchinson St. and 1509 N. Western Ave. in Chicago, Illinois. 2405 W. Hutchinson St. is listed at $15,950,000, and 1509 N. Western Ave. is listed for $7,650,000. Greenstone Partners Senior Director Jordan Multack is exclusively marketing both properties.
2405 W Hutchinson St. is a 48-unit property with 3,074 leasable square feet of retail. Built in 2020, the North Center property has a mix of studio, one-bedroom, and two-bedroom 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 also features garage parking with two EV charging stations and 46 standard parking spaces.
“This is a turnkey investment opportunity to acquire a stabilized asset in a great location,” said Multack. “With a current mix of market rate and ARO residents, there is still an opportunity to raise apartment rents to market values with minimal capital expenditures.”
1509 N. Western Ave. is an 18-unit Wicker Park property with a 1,700-square-foot retail unit. Built in 2018, the property features (6) one- and (12) two-bedroom floor plans with private decks and in-unit laundry. Community amenities include an indoor garage with 18 parking spaces and a roof deck.
“This Wicker Park property is another stabilized, turnkey investment opportunity,” said Multack. “Rents are currently 10% below market rate, and the property has exceptional access to public transit.”
