The Balaban — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Chicago, IL 60640

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Investment Figures

Cap rate
5.77%

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

THE BALABAN 1242 West Lawrence Avenue is a well-located, mixed-use multifamily asset in the heart of Chicago’s vibrant Uptown neighborhood. Positioned along Lawrence Avenue, a major commercial and transit corridor, the property benefits from strong visibility, excellent walkability, and robust demand drivers that make Uptown a resilient and renter-friendly submarket on Chicago’s North Side. The asset comprises 54 multifamily units and two commercial spaces, offering a balanced income stream from residential rentals supported by neighborhood-oriented retail. With approximately 40,395 rentable square feet, the property provides efficient scale in a dense urban setting. Modern management practices and a diversified unit mix position it well for stable occupancy and cash flow in a supply-constrained market. UNIT MIX: The residential component features a practical mix tailored to Uptown’s diverse renter base of professionals, young families, and long-term residents: 9 STUDIOS 37 ONE-BEDROOM / ONE-BATHROOM UNITS 4 TWO-BEDROOM / ONE-BATHROOM UNITS 4 TWO-BEDROOM / ONE-AND-A HALF-BATH UNITS 2 COMMERCIAL SPACES NEIGHBORHOOD & LIFESTYLE APPEAL: Uptown is a dynamic North Side Chicago neighborhood known for its cultural diversity, historic architecture, and revitalization momentum. Residents enjoy convenient access to the CTA Red Line (nearby stations), abundant dining, shopping, and entertainment options along Broadway and Lawrence, as well as proximity to parks, Lake Michigan, and key amenities. The area attracts a steady flow of renters seeking affordable urban living with strong transit connectivity to downtown and other employment centers. Uptown’s improving market trends and defensive qualities make it attractive for both short- and long-term rental demand. INVESTMENT RATIONALE 1242 West Lawrence offers investors exposure to a high-potential, transit-oriented asset in an established North Side submarket with favorable demographics and limited new supply. The balanced unit

Market Context

This mixed use in Chicago, IL is listed for sale. It is offered at an approximate 5.8% 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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