Property Description

18-unit multifamily investment opportunity located in Chicago's Auburn Gresham neighborhood. This corner brick apartment building offers investors a compelling value-add opportunity with dramatically below-market rents and strong upside potential through renovations and improved management. Current average rents are approximately $815/month, while renovated comparable units in the area are achieving $1,100-$1,450/month. The property consists entirely of spacious 1-bedroom/1-bathroom units and is currently fully occupied, providing immediate in-place cash flow while allowing new ownership to implement a strategic renovation program over time. Many tenants are currently month-to-month, creating flexibility for future rent adjustments and unit improvements. Recent capital improvements include a new boiler installed in 2025 and newer hot water tanks installed in 2022. The property is offered at approximately $54,389 per unit, significantly below recent comparable sales and current on-market pricing in the surrounding area. Conveniently located near public transportation, major thoroughfares, and ongoing community investment initiatives, this asset presents an excellent opportunity for investors seeking long-term appreciation and increased cash flow potential in a growing South Side submarket. (Offering Memorandum - available upon request).

Property Features