Essex Realty Group, Inc. has been exclusively engaged to market for sale, 6505-07 N. Bell Ave., a corner 6-unit apartment building located in Chicago’s vibrant West Ridge neighborhood. The property offers a new owner the rare opportunity to own an asset that sits adjacent to the Robert A. Black Golf Club and walking/biking paths.
The unit mix consists of six (6) 2 Bed/1 Bath units with large, separate living & dining rooms and oversized bedrooms. Each apartment features predominately hardwood flooring with standard vintage finishes, providing new ownership with a significant value-add investment opportunity. A new owner may realize tremendous rental upside by updating the kitchens and bathrooms and adding coin-operated laundry in the basement.
For example, one (1) unit at the Subject Property was recently rehabbed with refinished hardwood floors, granite countertops and stainless steel appliances. Following these improvements, the unit was re-leased, with monthly rent increasing from $900 to $1,200 per month (a 33% increase).
6505-07 N. Bell Ave., located just over a mile west of Loyola University's Campus, benefits from its proximity to Robert A. Black Golf Club, as well as a multitude of local shops and restaurants along Devon and Western Avenues. Further, the property provides tenants easy access to both the Western Avenue and Devon Avenue CTA bus lines.
Known as one of Chicago's most historically and culturally abundant neighborhoods, West Ridge has become a cherished community that boasts thriving retail lining Devon Avenue, historic mansions along Ridge and Lunt Avenues and cultural institutions such as St. Scholastica Academy.
6505 N. Bell Ave. is situated in a uniquely desirable pocket of the West Ridge neighborhood. Located blocks from the heart of the Devon Avenue Commercial Corridor, the Subject Property benefits from its proximity to local shops and restaurants. The building is also located next door to Robert A. Black Golf Club and Hoyne Field, which is home to Loyola University's NCAA Men's and Women's Soccer and Softball Teams.
- Corner Building Adjacent to Golf Course
- Six (6) 2 Bd/1 Ba Units
- Units Feature Large, Separate Living & Dining Rooms and Oversized Bedrooms
- Significant Value-Add Opportunity in Apartments
- Opportunity to Add Bedrooms
- Two (2) Garage Parking Spaces