64 E Cedar St

Chicago's Gold Coast is a historic district that emerged after the Great Chicago Fire. Legend has it that following the completion of the Palmer Mansion—a grand, 42-room castle-like residence—other affluent families were inspired to settle in the area. This led to the creation of what would become Chicago’s wealthiest neighborhood. By the 1980s, the Gold Coast, alongside neighboring Streeterville, was the second most affluent area in the United States, trailing only Manhattan's Upper East Side. Today, much of this rich history is still visible, with a blend of historic mansions, row houses, and luxury buildings. Unsurprisingly, the neighborhood is also home to some of Chicago’s most renowned and longstanding restaurants and bars, such as Gibson's Bar & Steakhouse, Maple & Ash, Adalina, and Carmine's. The Subject Property is situated on the north side of Cedar Street, one of the most coveted addresses in the area. This prime location offers easy access to renowned restaurants, bars, and a wealth of conveniences. Just one block from the iconic Oak Street Beach and Chicago’s breathtaking lakefront trail, which stretches 18 miles from the city's northernmost neighborhood to Indiana. Residents enjoy easy access to Lake Shore Drive, Michigan Avenue buses, the Magnificent Mile, and Chicago’s central business district.Essex Three-Twelve, LLC is pleased to present 64 E. Cedar St., a rare boutique multi-family investment opportunity in the heart of Chicago’s prestigious Gold Coast. Situated on East Cedar Street—uniquely equidistant to Oak Street Beach, Rush Street Restaurant Row, Mariano Park, and the Oak Street Luxury District—this distinctive walk-up offers an investor the opportunity to own in a market where properties rarely become available. Properties on Cedar Street, Bellevue Place and Elm Street are considered among the most coveted in the Gold Coast sub-market. The units, which boast tall ceilings, have a unit mix consisting of: Two (2) 1 Bed/1 Bath units, One (1) 1 Bed/1.5 Bath unit, One (1) 2 Bed/2 Bath unit, and Two (2) 3 Bed/3 Bath units (one of which is a Penthouse with private rooftop deck). Further, the Two (2) 3 Bed/3 Bath units are currently leased to Hubbard, a corporate housing and short-term rental company, under corporate-guaranteed leases with automatic annual rent and RUBS escalations. Positioned on the north side of Cedar Street, this property is nestled in the heart of the Gold Coast, surrounded by some of Chicago’s most iconic dining establishments, including Tavern on Rush, Gibson’s Steakhouse, Lou Malnati’s, Maple & Ash, Carmine’s, LUXBAR, and Adalina. Additionally, the building is just steps from Chicago’s Magnificent Mile, Lake Shore Drive, and Oak Street Beach, providing unparalleled access to world-class shopping, dining, entertainment, and the vibrant energy that defines this sought-after neighborhood. This is a rare opportunity to own a premier property in one of Chicago’s most desirable locations. Drone Footage: https://youtu.be/H9W_8JKy0bA