2346 West McLean Avenue — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Chicago, IL 60647

Photos

2346 West McLean Avenue — Sale in Chicago, IL, photo 1 of 2
2346 West McLean Avenue — Sale in Chicago, IL, photo 2 of 2

Investment Figures

Cap rate
6.13%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

OVERVIEW 2346 West McLean Avenue is a well-located multifamily asset in the heart of Chicago’s Bucktown neighborhood, close to the action along Milwaukee Avenue. The property also sits near the Logan Square and Wicker Park borders, giving residents easy access to all three neighborhoods’ shopping, dining, and entertainment options, along with a short walk to the Blue Line. The asset comprises seven multifamily units totaling approximately 4,607 rentable square feet (5,298 gross building area). The unit mix spans studio, one-bedroom, and two-bedroom layouts, giving ownership a diversified income stream across a range of renter household types. Unit Mix The residential component features a varied mix tailored to a broad range of renters: • ONE STUDIO UNIT • FIVE ONE-BEDROOM / ONE-BATHROOM UNITS • ONE TWO-BEDROOM / ONE-BATHROOM UNIT NEIGHBORHOOD & LIFESTYLE APPEAL Bucktown is one of Chicago’s most desirable North Side neighborhoods, known for its historic greystones, boutique retail, and acclaimed dining and nightlife along Damen, North, and Milwaukee Avenues. Its proximity to the Logan Square and Wicker Park borders further broadens the property’s appeal, giving residents convenient access to additional dining, park boulevards, and creative energy just outside the neighborhood’s edge. Strong walkability and reliable Blue Line access support steady renter demand from a wide cross-section of Chicago’s North Side workforce. INVESTMENT RATIONALE 2346 West McLean offers investors a diversified multifamily asset in one of Chicago’s most established and in-demand North Side neighborhoods. The property’s varied unit mix broadens its renter base, while its Bucktown location on the doorstep of Logan Square and Wicker Park supports strong, consistent demand and a durable, long-term ownership thesis in a supply-constrained submarket. This transit-connected setting and limited competing new supply support a stable, long-term ownership thesis in one of Chicago’s most resilient Nort

Market Context

This multifamily in Chicago, IL is listed for sale. It is offered at an approximate 6.1% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Chicago, IL — view the full market.

As of Q1 2026, the Chicago multifamily market showed average asking rents near $2018.50/unit/mo, and rents up 3.1% year over year. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

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