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AIA /// 141 UNITS /// WEST PULLMAN 232 E 121st Plz 141 Unit Apartment Building $5,500,000 ($39,007/Unit) 12.54% Cap Rate Chicago, IL 60628

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INVESTMENT HIGHLIGHTS

  • LARGE SCALE VALUE-ADD OPPORTUNITY
  • MOSTLY 2-BEDROOM APARTMENTS
  • 153 OFF-STREET PARKING SPACES
  • 10 APARTMENT BUILDINGS, COMPLETELY VACANT
  • TENANT HEATED
  • 3 BLOCKS TO METRA TRAIN

EXECUTIVE SUMMARY

Apartment Investment Advisers, LLC ("AIA") has been granted the exclusive right to market and sell the subject property.
AIA is a Chicago-based commercial real estate brokerage firm focused exclusively on the marketing and sale of multifamily properties throughout the Chicago metropolitan area. The firm has represented it's clients in the sale of more than 500 apartment buildings totaling in excess of 10,000 apartment units and over $1,000,000,000 in sales volume.
For more information, please contact AIA:
info@aia-chicago.com | aia-chicago.com | 773.799.9299

PROPERTY FACTS

Price $5,500,000
Price Per Unit $39,007
Sale Type Investment
Cap Rate 12.54%
Sale Conditions
Distress Sale
  • High Vacancy Property
Gross Rent Multiplier 4.48
No. Units 141
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 3.14 AC
Building Size 200,000 SF
No. Stories 3
Year Built 1967
Zoning RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District

AMENITIES

UNIT AMENITIES

  • Air Conditioning
  • Heating
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower

SITE AMENITIES

  • 24 Hour Access
  • Laundry Facilities
  • Property Manager on Site
  • Recycling
  • Wi-Fi
  • Maintenance on site

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 25-27-121-053-0000
  • 25-27-121-055-0000
  • 25-27-121-058-0000
  • 25-27-121-052-0000
  • 25-27-121-046-0000
  • 25-27-121-054-0000
  • 25-27-121-057-0000
  • 25-27-121-060-0000
  • 25-27-121-056-0000
  • 25-27-121-059-0000
Land Assessment
$200,566
Improvements Assessment
$597,035
Total Assessment
$797,601
  • Listing ID: 37221388

  • Date on Market: 8/11/2025

  • Last Updated:

  • Address: 232 E 121st Plz, Chicago, IL 60628

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