8021-23 S Maryland Avenue
Chicago, IL 60619

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Description

Presenting a beautifully updated, occupied 4 out of 6-unit building, perfect for both investors and homeowners. Rent for one of the units has been raised from $1,100 to $1,700. The property features five 2-bedroom/1-bath units and one 3-bedroom/1-bath unit, all with living rooms. Each unit has been tastefully renovated, with modern kitchens and baths, updated plumbing, and individual furnaces. Tenants are responsible for their own electricity, heating, and cooking gas, ensuring a strong cash flow and cap rate. HVAC system installed 2017. New Hot water tank Oct 2025. The building also offers potential for additional income by installing a coin-operated laundry and an extra livable unit in the spacious basement. The exterior is well-maintained, featuring new windows and a full perimeter fence. While the 3-car detached garage requires some work, it provides excellent on-site parking opportunities. Sold "AS IS." Please refer to the additional documents for the Financial Pro Forma.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60619
• Year Built: 1926
• Stories: 3
• Units: 6 units
• Basement: Unfinished
• Zoning: MULTI
• # Of Ranges: 6
• # Of Refrigs: 6
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: 83rd Street to Maryland, North to Address
• Electric: Circuit Breakers, Separate Meters
• Electric Expense: 355
• Electric Expense Source: Combination
• Fire Protection: Alarm On Site
• Foundation Details: Brick/Mortar
• Fuel Expense: 3716
• Fuel Expense Source: Combination
• Green Supporting Documents: N
• Gross Income: 84612
• Gross Rent Multiplier: 5.49
• Gross Scheduled Income: 84612
• Heat/Ventilation: Forced Air
• Indoor Parking: Detached
• Information: 48-Hr Notice Required
• Insurance Expense: 5249
• Insurance Expense Source: Owner Projection
• Janitor Expense: 2300
• Main Type: Commercial Sale
• Maintenance Expense: 2300
• Manager Expense: 5000
• Manager Expense Source: OP
• Operating Expense: 26221
• Other Expense: 1500
• Other Expense Source: Owner Projection
• Repairs-Decor Expense Source: Owner Projection
• Roof Structure: Flat
• Tax Annual Amount: 2879
• Tax Year: 2023
• Tenant Pays: Electricity, Other
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 7051
• Township: Hyde Park
• Trash Expense: 1500
• Trash Expense Source: Owner Projection
• Type Multi-Family: Flats
• Water Expense Source: Owner Projection
• Water Sewer Expense: 2572
• Water Source: Municipal Water