318 W Grand Ave

Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 318 W. Grand Ave (the “Property”/”Investment”), a turnkey 12-unit multifamily/retail investment located in Chicago’s River North neighborhood.
The four-story property consists of one (1) retail space and twelve (12) new apartments. Strive Village, a private gym offering personal training, occupies 3,400 square feet on the first floor and 2,186 SF in the basement. The tenant has occupied the space since 2016, having also operated in the building previous to the full renovation. After a full redevelopment of the building in 2023, there are 4 units per floor and each unit features stainless steel appliances, individual HVAC, tankless water heaters, wi-fi thermostats, floor-to-ceiling windows, and private balconies. Additional amenities include in-unit washer/dryer and access to a Butterfly video intercom access system.
The Property benefits from its location in River North, one of Chicago’s most prominent “live, work, play” neighborhoods. It features dense residential housing, versatile office space, and world-class restaurants and nightlife. The Property’s proximity to the CTA Brown/Purple Line ‘L’ station (4 blocks), the CTA Red Line ‘L’ station (5 blocks), Ogilvie Transportation Center (Metra Trains 0.8-miles), CTA bus routes #37, #65, #125, and #156, and the entrance to I-90/94 at the Ohio-feeder ramp (1 block) offer tenants exceptional access to all modes of transportation. The Property’s demographics are among the best in Chicago, with a 1-mile average household income of $152,000, an average home value of $494,000, and a total population of 128,055.