7900 S Drexel Avenue
Chicago, IL 60619

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Description

Priced above 10 Cap Rate on current income! $107,593 income with one retail vacancy. Perfect Property For New And Experienced Investors! Don't miss out on this newly remodeled building that features 6 apartments and 8 retail/office storefronts equaling 14 income producing units. The 6 residential units are one 2bed/1bath, and five 1 bed/1bath. 5 apartment units have been renovated with individual gas forced heat and hot water heaters. 8 storefronts also have gas forced heat and central air. Tenant Pays cooking gas, heat, elec. Owner pays ins, tax, water. Conveniently located to Metra 79th St Station and Interstate. Walk into this deal with equity! Property located in a opportunity zone area so there are many city grants available. Located in up and coming Chatham and close to newly planned $9 Billion dollar Quantum Computer Campus.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60619
• Year Built: 1925
• Sq.Ft.: 9,952 sq ft
• Stories: 2
• Units: 14 units
• # Of Apts: 6
• # Of Ranges: 6
• # Of Refrigs: 6
• # Of Stores: 8
• Additional Parcels: Yes
• Approximate Age: Older
• Building Area Total: 9952
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick, Steel Siding, Glass
• Cooling: Central Air, Central Individual
• Directions: South on Cottage Grove, East on 79th and South on Drexel.
• Electric: Circuit Breakers
• Electric Expense: 500
• Electric Expense Source: Owner Projection
• Fire Protection: Fire Extinguisher/s
• Fuel Expense: 200
• Fuel Expense Source: Owner Projection
• Geographic Locale: Chicago Southwest
• Gross Income: 166596
• Gross Rent Multiplier: 6
• Gross Scheduled Income: 166596
• Heat/Ventilation: Forced Air, Gas
• Information: Show-Courtesy Key
• Insurance Expense: 14500
• Insurance Expense Source: Owner Projection
• Lot Size Square Feet: 7841
• Main Type: Commercial Sale
• Operating Expense: 59003
• Other Expense: 1000
• Other Expense Source: Owner Projection
• Roof: Rubber
• Roof Structure: Flat
• Tax Annual Amount: 21909
• Tax Year: 2023
• Tenant Pays: Air Conditioning, Electricity, Heat
• Total Annual Expense Source: Actual
• Total Monthly Income: 13883
• Township: Hyde Park
• Trash Expense: 1200
• Trash Expense Source: Owner Projection
• Water Expense Source: Owner Projection
• Water Sewer Expense: 5400