1533-37 N Wieland St
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1533-37 N Wieland St
20 Unit Block of Flats £5,160,258 (£258,013/Unit) 5.99% Net Initial Yield Chicago, IL 60610
Investment Highlights
- IRREPLACEABLE OLD TOWN LOCATION
- STEPS TO PUBLIC TRANSPORTATION
- CENTRAL HVAC/IN-UNIT LAUNDRY
- FULLY RENOVATED 2023
- COVERED PARKING
- CONDO QUALITY FINISHES
Executive Summary
Introducing an exclusive opportunity from 33 Realty and Jameson Commercial located at 1533-1537 North Wieland St in Chicago's vibrant Old Town neighborhood. This impressive multi-family building, fully renovated in January 2023 and originally built in 1968, stands prominently near the intersection of N Wieland St and W North Ave. The property features a total of 20 units across five stories, offering a mix of 8 studio apartments with one bathroom each and 12 one-bedroom apartments with one bathroom each. Each unit at 1533-1537 North Wieland St boasts modern amenities including stainless steel appliances, dishwashers, and elegantly tiled bathrooms. Central heating and air conditioning ensure year-round comfort, while the convenience of in-unit laundry adds to the appeal for tenants. Residents benefit from proximity to the Sedgwick Brown Line CTA stop, providing easy access to transportation. Garage parking is available on-site, further enhancing convenience for tenants. This fully renovated property presents an attractive investment opportunity, positioned for strong returns with its desirable location and modern amenities.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£398,064
|
£26.64
|
| Other Income |
£32,346
|
£2.17
|
| Vacancy Loss |
£11,942
|
£0.80
|
| Effective Gross Income |
£418,468
|
£28.01
|
| Taxes |
£33,287
|
£2.23
|
| Operating Expenses |
£75,423
|
£5.05
|
| Total Expenses |
£108,710
|
£7.28
|
| Net Operating Income |
£309,759
|
£20.73
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £398,064 |
| Annual Per SF | £26.64 |
| Other Income | |
|---|---|
| Annual | £32,346 |
| Annual Per SF | £2.17 |
| Vacancy Loss | |
|---|---|
| Annual | £11,942 |
| Annual Per SF | £0.80 |
| Effective Gross Income | |
|---|---|
| Annual | £418,468 |
| Annual Per SF | £28.01 |
| Taxes | |
|---|---|
| Annual | £33,287 |
| Annual Per SF | £2.23 |
| Operating Expenses | |
|---|---|
| Annual | £75,423 |
| Annual Per SF | £5.05 |
| Total Expenses | |
|---|---|
| Annual | £108,710 |
| Annual Per SF | £7.28 |
| Net Operating Income | |
|---|---|
| Annual | £309,759 |
| Annual Per SF | £20.73 |
Property Facts
| Price | £5,160,258 | Apartment Style | Mid Rise |
| Price Per Unit | £258,013 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Net Initial Yield | 5.99% | Building Size | 14,940 SF |
| Gross Rent Multiplier | 12.7 | Average Occupancy | 100% |
| No. Units | 20 | Number of Floors | 5 |
| Property Type | Residential | Year Built/Renovated | 1968/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.8/1,000 SF |
| Price | £5,160,258 |
| Price Per Unit | £258,013 |
| Sale Type | Investment |
| Net Initial Yield | 5.99% |
| Gross Rent Multiplier | 12.7 |
| No. Units | 20 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 14,940 SF |
| Average Occupancy | 100% |
| Number of Floors | 5 |
| Year Built/Renovated | 1968/2023 |
| Parking Ratio | 0.8/1,000 SF |
Unit Amenities
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- Wi-Fi
- Storage Space
- Lift
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
| 1+1 | 12 | - | - |
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Walk Score ®
Walker's Paradise (98)
Transit Score ®
Excellent Transit (83)
Bike Score ®
Biker's Paradise (93)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £238,805 (2024) | |
| Land Assessment | £85,235 (2024) | Annual Taxes | £33,287 (£2.23/sf) |
| Improvements Assessment | £153,569 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£85,235 (2024)
Improvements Assessment
£153,569 (2024)
Total Assessment
£238,805 (2024)
Annual Taxes
£33,287 (£2.23/sf)
Tax Year
2023
zoning
| Zoning Code | R-5, Chicago |
| R-5, Chicago |
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1533-37 N Wieland St
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