905 W Fletcher St, Chicago, IL 60657

The property is located near the intersection of Belmont & Clark in Lake View, about a half block from the Belmont Red Line station. The neighborhood has historically been known for a vibrant counter culture throughout the 1980's and 90's and has since gentrified into a dense, residential and commercial district. Significantly, there has been a wave of positive development in the area. Target currently anchors the NW corner of Belmont and Clark while Whole Foods is slated to move into thee SE corner shortly. In addition, Advocate Illinois Masonic, approximately two blocks to the south has been undergoing a $645 mm expansion and modernization project including a 330,000 SF and 230-bed new hospital tower delivered in October 2025.905 W Fletcher St consists of two buildings totaling 7 units on a 37.5' extra-wide lot. The front building is a stately greystone and brick 4-unit with a copper cornice. The rear building is a 3-unit frame coach house. 6 of 7 units have Central Air and all units pay for their own heat. 3 of 7 units have in-unit laundry and the others share a common laundry room in the main building. There is a single tandem parking spot available. The asset is located in East Lake View half a block from the Belmont Red Line CTA station. This is a dynamic area of the city experiencing significant development: immediately to the south, Advocate Illinois Masonic is undergoing a $645 million expansion adding a 230-bed new private-bed tower in October 2025. In addition, Whole Foods is opening at the southeast corner of Belmont & Clark. The property is being listed at $2.290 mm, an approximate in-place 5.5% cap rate and 11.0x GRM. The building has had very little turnover in the past three years and there is a +18% mark-to-market opportunity within the in-place rent roll allowing. A new buyer could stabilize the asset near a 6.9% cap rate and 9.4x GRM. Listing agent has an ownership interest in the building.