856 N Wolcott AVE Chicago, IL 60622 Open Sat 10AM-1PM

UPDATED: 04/01/2026 10:51 PM ON MARKET: 2 days on market

$1,225,000

7 Beds4 Baths

Key Details

Property Description

Legal 4-unit building on a quiet, tree-lined street in the heart of Ukrainian Village/Wicker Park, offering a rare combination of strong in-place income with clear upside potential. The property consists of two front and two rear units, including three 2 bed/1 bath layouts and one 1 bed + den/1 bath, all thoughtfully maintained and continuously upgraded by ownership. Each unit features hardwood floors, stainless steel appliances, granite countertops, dishwashers, central HVAC, and in-unit laundry. Bedroom layouts are well-proportioned, comfortably accommodating queen-sized beds with additional furniture. Significant capital improvements include updated windows, refreshed interiors across multiple units, electrical updates to HVAC systems, and a recently sealed roof. Current owners continued to make additional improvements which include: Owners unit (#4) had a full bathroom remodel, pantry and linen closet installed, new washer and dryer, refreshed kitchen cabinets and updated electrical. Unit 2 had a kitchen refresh, cabinets painted, new washer and dryer installed, and pantry installed. Bathroom was also updated with new fan / extractor. Overall Building improvements include all ACs had their electrical updated, roof had new sealant layer installed, and repaired brick chimney. With lease expirations approaching, a new owner could reset rents and drive meaningful income growth post ownership. With lease expirations from June through September, new ownership is well-positioned to drive rental increases-either through renewals or new leasing-during Chicago's peak rental season in a highly sought-after location The building also features a large, full unfinished basement with additional coin-operated laundry and potential for further value creation, including duplex-down opportunities for the first-floor units. A brick 1.5-car garage (deep configuration) provides additional income or tenant convenience. Ideally located just steps from West Town's top dining, cafes, and retail, with convenient access to public transportation, expressways, and a short commute to the Wicker Park/Bucktown, West Loop and Fulton Market.