Eight gut‑renovated units in East Lakeview.
New electrical service and all-new plumbing
- New roof
- New HVAC
- Drain tile and sump
- Added bathroom in every unit
- All-new kitchens, baths, flooring and fixtures
All eight units leased as of 10/1, at rents achieved on 2026 signings.
2,500+ SF of private outdoor space, private front decks and an upgraded shared rear deck: rare green space in one of Chicago's densest rental submarkets.
Minimal near-term capital. Staggered move-ins support a post-construction rental growth program.
Steps to Broadway. Minutes to the lake.
Property profile
- Address
- 618 West Patterson Ave, Chicago, IL 60613
- Submarket
- East Lakeview · North Lakefront
- Unit mix
- 63 BR / 2 BA22 BR / 2 BA
- Renovation
- Gut rehab completed 2026
- Occupancy
- 100%
- Lot
- 6,009 SF · 0.138 acres
- Outdoor
- 2,500+ SF private outdoor space · private decks
Everything within walking distance.
- 1Addison · Red Line
- 2Sheridan · Red Line
- 3Belmont · Red, Brown, Purple
- 4Jewel-Osco · 3531 N Broadway
- 5Target · 3204 N Clark
- 6Mariano's · 3030 N Broadway
- 7Thorek Memorial Hospital
- 8Advocate Illinois Masonic
- 9Walgreens · 3646 N Broadway
- 10CVS · 1031 W Addison
Family-size rents lead East Lakeview.
Demand stays deep year-round, and family-size units are leading the growth. Lakeview average rents rose 6.4% over the past year, against 3.4% for Chicago overall.
In-place rents sit below market.
| Unit type | Units | In-place | Pro forma | Market median · Aug 2026 |
|---|---|---|---|---|
| 2 BR / 2 BA | 2 | $3,525 | $3,625 | $3,500 |
| 3 BR / 2 BA | 6 | $4,689 | $4,850 | $5,200 |
Financials, rent roll and financing
Unit Mix · Rent Roll · Operating Statement · Operating Notes · Cost Segregation and the data room open once you accept the confidentiality agreement.
Review and accept the agreement
The lot, top-down.
Private front decks up top, a shared rear deck, and 2,500+ SF of private outdoor space on a 6,009 SF RM-5 lot — rare open space on a block of six-story neighbors.
Sales comparables
| # | Property | Units | Price | $ / Unit | Cap | Sold |
|---|---|---|---|---|---|---|
| S | 618 West Patterson Ave East Lakeview · 1920 · 11,250 SF · at asking | 8 | $4,850,000 | $606,250 | 6.54% | — |
| 1 | 516-518 W Arlington Pl Lincoln Park · 1902 | 14 | $10,350,000 | $739,286 | 5.40% | 4/28/25 |
| 2 | 544 W Wellington — The Georgia Lakeview · 1907 · 15,648 SF | 8 | $5,800,000 | $725,000 | 5.50% | 1/31/26 |
| 3 | 2848 N Seminary Ave Lakeview · 1905 · 21,781 SF | 19 | $10,850,000 | $571,053 | 6.07% | 2/27/26 |
| 4 | 3415 N Elaine Pl Lakeview · 1920 | 9 | $4,950,000 | $550,000 | 6.00% | 7/1/26 |
| 5 | 2468 N Orchard St Lincoln Park · 1915 · 8,862 SF | 7 | $3,400,000 | $485,714 | 4.14% | 1/30/26 |
| 6 | 618 W Wrightwood Ave Lincoln Park · 1892 · 5,287 SF | 7 | $3,000,000 | $428,571 | 5.70% | 6/24/26 |
Rent comparables
| # | Property | Units | Avg SF | Avg rent |
|---|---|---|---|---|
| S | 618 West Patterson — pro forma East Lakeview | 8 | 1,125 | $4,544 |
| 1 | 2050 N Clark St — Twenty Fifty Lincoln Park | 32 | 1,105 | $4,363 |
| 2 | 2219-2221 N Clybourn — Clover View Lofts DePaul | 12 | — | $4,565 |
| 3 | 2411 N Lincoln Ave — The Porter DePaul | 36 | 1,162 | $5,045 |
| 4 | 3001 N Southport Ave Lakeview | 7 | 1,476 | $4,906 |
Rent comparables — unit mix
| # | Property | Unit type | SF | Count | Asking |
|---|---|---|---|---|---|
| 1 | 2050 N Clark St — Twenty Fifty Lincoln Park · 2019 | 1 BR / 1 BA | 770 | 12 | $3,254 |
| 2 BR / 2 BA | 1,200 | 16 | $4,538 | ||
| 3 BR / 2 BA | 1,730 | 4 | $6,993 | ||
| 2 | 2219-2221 N Clybourn — Clover View Lofts DePaul · 2023 | 2 BR / 2 BA | — | 2 | $3,504 |
| 3 BR / 2 BA | — | 10 | $4,778 | ||
| 3 | 2411 N Lincoln Ave — The Porter DePaul · 2023 | 2 BR / 2 BA | 942 | 16 | $4,120 |
| 3 BR / 2 BA | 1,261 | 16 | $5,670 | ||
| 4 BR / 3 BA | 1,649 | 4 | $6,250 | ||
| 4 | 3001 N Southport Ave Lakeview · 2021 | 2 BR / 2 BA | 1,285 | 3 | $4,185 |
| 3 BR / 2 BA | 1,475 | 3 | $4,936 | ||
| 4 BR / 3 BA | 2,050 | 1 | $6,975 |
Let's start a conversation.
