North & Wells — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Chicago, IL 60610

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Investment Figures

Cap rate
5.67%

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

1561 N. Wells Street is a premier mixed-use asset located at the signalized intersection of North Avenue and Wells Street in Chicago's Old Town neighborhood. Spanning four addresses, 1561 and 1563 N. Wells Street and 163 and 165 W. North Avenue, the property occupies a highly visible corner along one of the Near North Side's premier retail corridors, benefiting from strong foot traffic and a dense, affluent customer base. The property comprises 10 apartment units and three ground-floor commercial spaces totaling approximately 13,048 rentable square feet. Long term leases with credit quality retailers provide stable commercial income, while the apartment units offer meaningful rental upside. Unit Mix • Two Studio Units • Two One-Bedroom Loft Units • Two One-Bedroom, One and One Half Bath Units • Four Two-Bedroom, One Bath Units • Three Commercial Spaces occupied by Byline Bank, McDonald's, and Aloha Poke Neighborhood & Lifestyle Appeal Old Town is one of Chicago's premier North Side neighborhoods, known for its historic charm, walkable streets, and vibrant Wells Street retail corridor. Residents enjoy immediate access to restaurants, entertainment, boutique shopping, and CTA Brown, Purple, and Red Line service, with the Loop just 10 to 15 minutes away. Limited new multifamily supply continues to support strong rental demand. Investment Rationale North & Wells offers the rare opportunity to acquire a premier mixed use asset in one of Chicago's most sought after neighborhoods. Long term leases with McDonald's and Byline Bank provide stable income through 2032 with contractual rent growth, while below market apartment rents create a clear value add opportunity through lease turnover. Combined with its irreplaceable location and exceptional walkability, the property is well positioned to deliver durable cash flow and long term appreciation. Investment Highlights: • Trophy Location on the Corner of North Avenue & Wells Street • Annual Residential Income more than $70,000

Market Context

This mixed use in Chicago, IL is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in Chicago, IL — view the full market.

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