7,860 sq ft;
lot: 5663 sq ft lot
Commercial: Multi Family 5+ - MLS# 12580233
Tools & Resources:
Description
Six-unit multifamily property located in the Chatham neighborhood on Chicago's South Side. The property consists of three 1-bedroom/1-bath units and three 2-bedroom/1-bath units. Each unit features separate living and dining areas. The building includes a detached four-car garage located at the rear of the property. All units are currently occupied. Tenancy is month-to-month. Current rental rates are below prevailing market levels for comparable units in the immediate area. The property is situated within close proximity to neighborhood retail corridors, public transportation options, and major arterial roadways, providing convenient access to downtown Chicago and surrounding employment centers. Asset offers rental growth potential through interior updates and market repositioning.
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60619
- Year Built: 1928
- Sq.Ft.: 7,860 sq ft
- Stories: 3
- Units: 6 units
- Lot Size: 5663 sq ft lot
- Zoning: MULTI
- Approximate Age: Older
- Building Area Total: 7860
- Building Unit Info: Storage/Locker Area
- Built Before 1978 (Y/N): Yes
- Construction Materials: Brick
- Directions: From Cottage Grove - North or South to Cottage Grove to 82nd Street (one way going East) to Drexel then to address
- Electric: Separate Meters
- Electric Expense: 600
- Electric Expense Source: Owner Projection
- Expense Year: 2025
- Foundation Details: Brick/Mortar
- Fuel Expense: 12456
- Fuel Expense Source: Actual
- Gross Income: 5332
- Gross Rent Multiplier: 7.02
- Gross Scheduled Income: 63984
- Heat/Ventilation: Central Bldg Heat, Radiators
- Information: List Broker Must Accompany, Other-See Remarks, No Sign on Property
- Insurance Expense: 8560
- Insurance Expense Source: Actual
- Known Encumbrances: None Known
- Land Amenities: Curbs and Gutters, Sidewalks
- Location: In City Limits
- Lot Size Source: County Records
- Lot Size Square Feet: 5552
- Main Type: Commercial Sale
- Manager Expense Source: AC
- Operating Expense: 35151
- Outdoor Parking: 1-5 Spaces
- Roof: Tar/Gravel
- Roof Structure: Flat
- Tax Annual Amount: 5064
- Tax Year: 2024
- Tenant Pays: Electricity
- Total Annual Expense Source: Actual
- Total Monthly Income: 4391
- Trash Expense: 5651
- Trash Expense Source: Actual
- Type Multi-Family: Corridor-Exterior Entrance
- Water Expense Source: Owner Projection
- Water Sewer Expense: 2820
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