3141 North Oakley Avenue

Roscoe Village is one of Chicago's most sought-after North Side neighborhoods, defined by tree-lined streets, classic masonry architecture, and a walkable village atmosphere along Roscoe Street. The neighborhood's proximity to some of Chicago's most active employment corridors, including the Loop, River North, and the Lakeview and Lincoln Park office and medical districts, makes it a natural landing point, sustaining consistently low vacancy and strong long-term rental demand. The area's established fabric of vintage two- and three-flats, with limited land available for new multifamily development, creates a supply-constrained environment that structurally supports continued rent growth and asset appreciation. Transit access is exceptional. The CTA Brown Line's Paulina and Addison stations deliver residents to the Loop in approximately 20 minutes, and six CTA bus routes running along the neighborhood's primary corridors provide broad connectivity across the North Side. For families, Audubon Elementary, a Level 1+ CPS school with a waitlisted pre-K program, is the neighborhood school of record, and Lane Tech College Prep and DePaul College Prep serve high school-aged students within proximity. Hamlin Park, Clark Park along the Chicago River, and the walkable retail and dining scene on Roscoe Street round out a quality-of-life profile that makes this one of the most resilient rental markets on Chicago's North Side.Essex Three-Twelve is pleased to present the exclusive offering of 3141 North Oakley Avenue, a three-unit multifamily property situated in Chicago's highly sought-after Roscoe Village neighborhood. The masonry building has been thoughtfully updated throughout, featuring renovated kitchens with stainless steel appliances, hardwood flooring, and high-end finishes. Each unit includes an in-unit washer/dryer, central air, a separate electrical panel, and an individual hot water tank. The building is mechanically sound and low-maintenance, with a two-car garage. Current in-place rents are materially below market: the three-bedroom units sit 20.5% below comparable leases in the trade area, while the two-bedroom unit carries 12.6% mark-to-market potential; upside achievable through ordinary lease turnover with no capital investment required. At current rents, the property generates an NOI of $71,661 (5.53% cap rate); upon stabilization at market rents, NOI grows to $84,378, reflecting a 6.52% stabilized cap rate and a Year 1 total return of 6.7%. Located in Roscoe Village, the property benefits from one of Chicago's strongest residential demand profiles. Recent comparable sales closed between $1,165,000 and $1,375,000 at an average GRM of 13.72x; at the asking price, the subject trades at a stabilized GRM of 11.39x, offering a favorable entry point into one of the city's most liquid and high-performing multifamily submarkets