1019 E 62nd St
Chicago, IL 60637
Multifamily Property For Sale · 8 Units

Marcus & Millichap is pleased to present 1019-21 East 62nd Street located in the Woodlawn neighborhood of Chicago, Illinois. Woodlawn is home to The University of Chicago, University Hospital, and the now Obama Presidential Library development. The neighborhood is nestled adjacent to Hyde Park, Jackson Park, and the Cottage Grove Green-Line. The subject property is immediately south of the Midway Plaisance. The Plaisance is now a well-maintained walking and bike riding thoroughfare amidst the University's campuses. Between 60th and 61st Streets (with Stony Island Avenue to the east and Cottage Grove Avenue to the west) are several of the University's South Campus buildings including: University of Chicago Press, the law quadrangle and law library, the School of Service Administration, the Harris School of Public Policy Studies, the National Opinion Research Center, the Center for Research Libraries, Chapin Hall, and Granville-Grossman Residential Commons. Some of the University's faculty and several hundred of its graduate and undergraduate students live south of 60th Street in University-owned real estate and dormitories, as well as in privately owned residences. The subject property consists of eight residential units, comprised of two one-bed/one-bath, one two-bed/one-bath, and five three-bed/one-bath units. All units have moderate finishes featuring tiled kitchens and baths with a large den/living room space. Heat and A/C is provided by in-unit HVAC systems. A new half rubber membrane was installed on the roof this summer while the tuck-pointing work is complete. Current rents are significantly under market, providing a near term opportunity to increase rents. There are also three parking spaces with enough room to create a fourth. The subject property is conveniently located within a three-minute walk to campus, an eight-minute walk to the CTA's (Chicago Transit Authority) Cottage Grove Green Line train stop, a 12-minute walk to the 63rd Street Metra stop, and a four-minute walk to the 63 bus stop.