6037 S Champlain Avenue
Chicago, IL 60637

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Description

Prime 8-Unit Income Property in Woodlawn just steps from University of Chicago. Invest in one of Woodlawn's most desirable locations with this well-maintained 8-unit building, just three blocks from the University of Chicago Hospital and approximately one mile from the Obama Presidential Center. Strong, consistent rental demand makes this an exceptional income-generating opportunity. The property features six spacious 3-bedroom/1-bath units and two 2-bedroom/1-bath units, appealing to a wide range of tenants. Fully renovated down to the studs 30 years ago and meticulously maintained by long-term ownership. The building offers a hassle-free investment with tenants responsible for their own gas and electricity. Each unit can be easily converted to include in-unit laundry, as a drain, gas line, hot and cold water connections, and a dryer vent are already in place, allowing for straightforward installation. The property has no lead pipes with new sewage lines installed in December 2023. Additional highlights include a spacious, fenced concrete backyard with handicap-accessible ramps. The backyard can also be easily converted into multiple parking spaces. This is a rare opportunity to acquire a stable, income-producing property in a rapidly appreciating Woodlawn neighborhood.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60637
• Year Built: 1899
• Sq.Ft.: 7,548 sq ft
• Stories: 3
• Units: 8 units
• Basement: Finished
• Zoning: MULTI
• # Of Dryers: 2
• # Of Ranges: 8
• # Of Refrigs: 8
• # Of Washers: 2
• Additional Parcels: Yes
• Approximate Age: 26-35 Years
• Building Area Total: 7548
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick, Stone
• Directions: Cottage Grove Ave to E 61st St, North to S Champlain Ave to Property
• Electric: Circuit Breakers, Service - 0 to 100 Amps
• Electric Expense: 576
• Electric Expense Source: Actual
• Expense Year: 2024
• Fuel Expense: 1610
• Fuel Expense Source: Actual
• Gross Income: 102300
• Gross Rent Multiplier: 10.7
• Gross Scheduled Income: 75584
• Heat/Ventilation: Central Heat/Indiv Controls
• Information: List Broker Must Accompany
• Insurance Expense: 5700
• Insurance Expense Source: Actual
• Janitor Expense: 1644
• Lot Size Source: County Records
• Lot Size Square Feet: 6000
• Main Type: Commercial Sale
• Operating Expense: 26716
• Outdoor Parking: None On Site
• Ownership Type: Land Trust
• Tax Annual Amount: 9883
• Tax Year: 2024
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Actual
• Total Monthly Income: 8525
• Township: Hyde Park
• Trash Expense: 1903
• Trash Expense Source: Actual
• Type Multi-Family: Flats
• Utilities: Sewer Connected
• Water Expense Source: Actual
• Water Sewer Expense: 5400
• Water Source: Municipal Water