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8-Unit Mixed-Use Building 1656 W 79th St 8 Unit Apartment Building $480,000 ($60,000/Unit) 9.20% Cap Rate Chicago, IL 60620
INVESTMENT HIGHLIGHTS
- 79th Street Frontage
- Basement Space
- On-Site Parking
- Corner Location
- 100% Occupied
EXECUTIVE SUMMARY
Prime investment opportunity with this well-maintained 8-unit mixed-use building located on the high-visibility corner of 79th Street and Paulina in Chicago. The attractive red brick property features one ground-floor retail unit, currently occupied by a long-standing hair salon, along with seven residential units above. The residential mix includes six 1-bedroom/1-bath apartments and one 2-bedroom/1-bath apartment, offering a steady rental base with the majority of tenants on flexible month-to-month leases. Classic Chicago brick architecture with enclosed front entryways, rear balconies, and a partial basement. Many updates have already been completed, reducing near-term capital needs for a new owner. On-site parking for approximately 10 vehicles further enhances the property’s appeal, providing convenience for both residents and retail customers.
PROPERTY FACTS
| Price | $480,000 | Building Class | C |
| Price Per Unit | $60,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 6,014 SF |
| Cap Rate | 9.20% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 0.82/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B1-1 - Neighborhood Shopping District | ||
| Price | $480,000 |
| Price Per Unit | $60,000 |
| Sale Type | Investment |
| Cap Rate | 9.20% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,014 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1966 |
| Parking Ratio | 0.82/1,000 SF |
| Zoning | B1-1 - Neighborhood Shopping District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 20-30-434-037-0000 | Improvements Assessment | $58,611 |
| Land Assessment | $5,489 | Total Assessment | $64,100 |
PROPERTY TAXES
Parcel Number
20-30-434-037-0000
Land Assessment
$5,489
Improvements Assessment
$58,611
Total Assessment
$64,100
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8-Unit Mixed-Use Building | 1656 W 79th St
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