1534 E Marquette Road
Chicago, IL 60637

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Description

An Investor's Dream: High-Quality Multifamily Asset in Woodlawn's Growth Corridor right along the Lakefront. This professionally managed and meticulously maintained multifamily property at 1534 E Marquette Road is a premier investment opportunity in Chicago's rapidly appreciating Woodlawn community. Positioned for both immediate cash flow and substantial long-term equity growth, this asset offers a strategic foothold in one of the city's most dynamic development zones. Solid Fundamentals, Unmatched Upside Exceptional ROI: This building offers a solid return from day one. Rent growth in the market area is strong presenting an opportunity to value add. Built-in Value: The property's large (approximately 1600+sq ft units on the second and third floor and even larger duplex down units on the first floor, command premium rents and are highly attractive to quality tenants, reducing vacancy risk. Professional Ownership: Owned and managed by a builder/developer, this property has been maintained to a high standard, with consistent upgrades and professional oversight that ensures a smooth operation. Prime Location, Exponential Growth. The investment story of this property is driven by its irreplaceable location at the nexus of major public and private development. Obama Presidential Center: Located just four blocks from the OPC site, the property, and is residents, are poised to benefit directly from the economic and cultural revitalization that this landmark project is bringing to the area. Jackson Park Transformation: Situated only one block from the Jackson Park Golf Course, the property is a direct beneficiary of the multi-million dollar redesign of the course and the broader park system, enhancing local amenities and property values. Hyper-Proximate to Key Institutions: Within a mile, tenants have access to the University of Chicago, its world-class hospital, the lakefront trails, and the 63rd Street Beach, ensuring a deep pool of potential renters, including students, faculty, and medical professionals. New Construction Hotspot: Woodlawn has been a leader in new construction permits filed, confirming its status as a top-tier neighborhood for investment and development. This property is surrounded by new projects, signaling a strong and sustained trajectory of appreciation. This is a rare opportunity to acquire a high-quality, professionally managed income property with a clear path to significant future returns. A perfect addition to any investment portfolio, it is a stable asset in the middle of a major urban renaissance.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60637
• Year Built: 1907
• Stories: 3
• Units: 6 units
• Zoning: MULTI
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Cap Rate: 7.27
• Construction Materials: Brick
• Cooling: Central Air
• Directions: Stony Island to 66th (AKA Marquette). 500 Feet West to property.
• Electric: Circuit Breakers
• Electric Expense: 453
• Electric Expense Source: Broker Projection
• Expense Year: 2024
• Fuel Expense: 453
• Fuel Expense Source: Broker Projection
• Gross Income: 137100
• Gross Rent Multiplier: 10.6
• Gross Scheduled Income: 137100
• Heat/Ventilation: Forced Air, Gas, Individual Furnaces
• Information: 24-Hr Notice Required, List Broker Must Accompany
• Insurance Expense: 5760
• Insurance Expense Source: Actual
• Janitor Expense: 4148
• Lot Size Source: County Records
• Main Type: Commercial Sale
• Maintenance Expense: 8429
• Manager Expense: 5700
• Manager Expense Source: AC
• Operating Expense: 30990
• Outdoor Parking: 6-12 Spaces
• Ownership Type: Corporation
• Repairs-Decor Expense Source: Actual
• Tax Annual Amount: 9648
• Tax Year: 2023
• Total Annual Expense Source: Actual
• Total Monthly Income: 11425
• Trash Expense: 2531
• Trash Expense Source: Actual
• Type Multi-Family: Flats
• Water Expense Source: Actual
• Water Sewer Expense: 2297