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$1,725,000 Just Listed
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Property Description
Turnkey, fully renovated 5-unit apartment building in the heart of Wicker Park - one of Chicago's most sought-after neighborhoods. Gut rehabbed in 2021 with high-end finishes throughout, this 7 bed / 6 bath building is a rare, low-maintenance investment opportunity ready to perform from day one. The building consists of the following: 1 bed/1 baths (2), 1 bed/1 bath plus den (1), 2 bed/1 bath (1), and a tri-level 2 bed/2 bath with bonus storage (1). Each unit features in-unit laundry, new appliances (dishwasher, oven/range, refrigerator), custom cabinetry, custom closets, grey wood finish floors, designer lighting, and smart home amenities including a Ring doorbell and Nest thermostat. Units boast generous storage, and the building offers additional storage in the attic. All units are individually metered for utilities, keeping operating costs lean and management simple. The units themselves get plenty of sun in the front and thoughtfully laid out - several feature a flexible office nook or secondary bedroom, beautiful barn doors, and pantry storage that sets them apart from typical rental stock. The location is unmatched. Steps from the Division Blue Line, Division Street's bar and restaurant corridor, Jewel, Target, a Divvy station, and a neighborhood community garden - tenants have everything they need within a 5-minute walk. This building offers investors a truly low-overhead, high-demand asset in a neighborhood that consistently commands strong rents and minimal vacancy.
Full Property Details
Full Property Details for 1731 W Potomac Ave
General
- Price: $1,725,000
- HOA FEE: $2,000
- Taxes: $30,608 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12601366
- Updated: 3/30/2026
- Added to Site: 5 day(s) ago
Interior
- Basement: Finished
Location
- Area: CHI - West Town
- County: Cook
- Township: West Chicago
- Driving Directions: West on Division, North on Wood, East on Potomac
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air
Utilities
- Water: Municipal Water
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement: Yes
- Basement Desc.: Finished
- Stories/Levels: 2
- Square Feet: 4,500
- Current Bldg. Use: Multi-Family
- Year Built: 1890
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 5
- Units w/Range/Oven: 5
- # Dryers: 5
Lot Features
- Lot Size (Sq. Ft.): 2,300
- Lot Dimensions: 23 x 100
Financial Considerations
- Maint. Fee: $2,000
- Insurance Fee: $4,854
- Operating Expenses: $53,960
- Other Fee: $2,282
- Assessment Year: 1890
- Tax Amount: $30,608
- Tax Year: 2024
- Tenant Pays: Air Conditioning, Electricity, Heat
- Pays Electric: 765
Disclosures and Reports
- Property ID: 17062330070000
Listed by Compass
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Schools
Schools serving 1731 W Potomac Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Pritzker Elementary School 2009 West Schiller Street, Chicago, IL 60622 | K-8 | 0.4 mi |
Wells Community Academy High School 936 North Ashland Avenue, Chicago, IL 60622 | 9-11 | 0.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1731 W Potomac Ave
Date
Details
Price
Change
Source
3/30/2026
Listed
$1,725,000
11.29%
MLS
3/30/2022
Sold
$1,550,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1731 W Potomac Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$18,200
3%
$86,000
—
2022
$17,689
2%
$86,000
—
2021
$17,294
13%
$86,000
25%
2020
$15,324
—
$68,790
-10%
2019
$15,357
2%
$76,434
—
2018
$15,098
16%
$76,434
27%
2017
$12,963
7%
$60,218
—
2016
$12,061
9%
$60,218
—
2015
$11,035
22%
$60,218
23%
2014
$9,071
2%
$48,891
—
2013
$8,892
1%
$48,891
—
2012
$8,773
—
$48,891
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1731 W Potomac Ave
1731 W Potomac Avenue, Chicago, IL 60622 (MLS# 12601366) is a Commercial property. 1731 W Potomac Avenue is currently listed for $1,725,000 and was received on March 30, 2026. Want to learn more about 1731 W Potomac Avenue? Do you have questions about finding other Commercial real estate for sale in West Town? You can browse all West Town real estate or contact a Coldwell Banker agent to request more information.

