25 Units · Multifamily For Sale
Value Add Multifamily

This classic Chicago courtyard building consists of twenty four (24) above ground units and one (1) basement unit. The unit mix consists of seventeen large (LR/DR) one (1) bedroom units (can be converted to two beds) and eight (8) large studio’s (can be converted to one beds). Value add component through improving units, raising rents, tax reduction and 70/30 market rate tenants to voucher tenants.

One owner for 10+ years who pulled permits for all deferred maintenance. Relatively clean history of building violations. Any outstanding violations are being cured as they come up. No violation exists for the porches however, they are likely going to need replacement in the near future.

Chatham is one of the 77 community areas of the city of Chicago, Illinois. It is located on the city’s South Side. It includes the neighborhoods of Chatham, East Chatham, West Chatham and the northern portion of West Chesterfield. Chatham is known to be where many city employees and other officials live.

  • Price: $850,000
  • No. Units: 25
  • Property Type: Multifamily
  • Property Sub-type: Apartments
  • Building Class: C
  • Building Size: 16,250 SF
  • Sale Type: Investment
  • Cap Rate: 9.53%
  • Sale Type: Investment
  • Conditions: Deferred Maintenance
  • Average Occupancy: 100%
  • No. Stories: 4
  • Year Built: 1928
  • Zoning: R-3, Chicago
  • APN/Parcel ID: 20-35-116-010-0000
  • Walk Score ®: 85 (Very Walkable)
  • Transit Score ®: 63 (Good Transit)
TimK

Contact Listing Broker

Timothy Keenan | Commercial Broker
Cell: 773.983.0741  –  Email:  timk@crer.com
Listings | CRER Profile | LoopNet |

Highlights

  • New Electric (Permits pulled)
  • New boiler
  • New roof (Permits pulled)
  • New windows
  • Well maintained
  • Long time owner

  • New Electric (Permits pulled)
  • New boiler
  • New roof (Permits pulled)
  • New windows
  • Well maintained
  • Long time owner

Unit Amenities

  • Storage Units
  • Oven
  • Heating Range
  • Refrigerator
  • Tub/Shower

Site Amenities

  • Courtyard
  • Gated
  • Vintage Building
  • Public Transportation

Unit Mix Information

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Financial Summary (Pro forma – 2018)

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Information provided therein, while believed to be accurate, are provided “as is”. Chicago Real Estate Resources, Inc. CRER disclaims any and all representations, warranties, or guarantees of any kind.

Traffic Information

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Public Transportation

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Timothy Keenan’s Other Listings

Contact Listing Broker

Timothy Keenan | Commercial Broker
Cell: 773.983.0741  –  Email:  timk@crer.com

Chicago Real Estate Resources, Inc.
205 North Michigan Avenue, Suite #2950
Chicago Illinois 60601

Timothy’s transactional experiences include multi-family, mixed use, retail, fractured condo developments, industrial, commercial and land sales. He also oversees more complex deals such as REO auctions, note purchases, portfolio note purchases, and portfolio REO.

    TimK

    Tim Keenan has been great to work with. He has brought us exciting opportunities that fit the model of what we are looking for. He is extremely knowledgeable about all aspects of the business and we feel like he is a partner in these deals as opposed to a broker. Lastly, he has proven in a very short time to be a person of integrity and honesty. He is our broker of choice and we will continue to work with him.

    PATRICK MCCOY Labrynth, Inc.

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