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8044 S Cottage Grove Ave 10 Unit Apartment Building $275,000 ($27,500/Unit) Chicago, IL 60619
Investment Highlights
- Five (5) 1Bd/1Ba, Two (2) 2Bd/1Ba, One (1) 3Bd/1Ba, & Two (2) Retail Spaces
- In Need of Complete Renovation
- 100% Vacant
- 27K Per Unit
Executive Summary
8044 S. Cottage Grove presents a rare mixed-use investment opportunity in the heart of Chicago’s Chatham neighborhood. The property consists of 10 total units, including five (5) 1Bd/1Ba apartments, two (2) 2Bd/1Ba apartments, one (1) 3Bd/1Ba apartment, and two (2) street-level retail spaces, offering investors a diversified income stream from both residential and commercial tenancy.
Positioned along the highly trafficked Cottage Grove Avenue corridor, the asset benefits from strong visibility, convenient access to public transportation, and proximity to neighborhood shopping, dining, and employment centers. The property is currently in need of a substantial renovation, presenting a compelling value-add opportunity for investors seeking to reposition the asset and unlock its full income potential. With a mix of residential and retail space, 8044 S. Cottage Grove offers the ability to create significant value through a comprehensive renovation program, updated leasing strategy, and operational improvements, making it an attractive opportunity for investors focused on long-term appreciation and strong cash flow growth.
Positioned along the highly trafficked Cottage Grove Avenue corridor, the asset benefits from strong visibility, convenient access to public transportation, and proximity to neighborhood shopping, dining, and employment centers. The property is currently in need of a substantial renovation, presenting a compelling value-add opportunity for investors seeking to reposition the asset and unlock its full income potential. With a mix of residential and retail space, 8044 S. Cottage Grove offers the ability to create significant value through a comprehensive renovation program, updated leasing strategy, and operational improvements, making it an attractive opportunity for investors focused on long-term appreciation and strong cash flow growth.
Property Facts
| Price | $275,000 | Building Class | C |
| Price Per Unit | $27,500 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 9,000 SF |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | B3-2 | ||
| Price | $275,000 |
| Price Per Unit | $27,500 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 9,000 SF |
| No. Stories | 3 |
| Year Built | 1960 |
| Opportunity Zone |
Yes |
| Zoning | B3-2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 900 |
| 2+1 | 2 | - | 1,000 |
| 3+1 | 1 | - | 1,100 |
1 1
Exceptionally walkable
100/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-34-215-037-0000 | Improvements Assessment | $56,100 |
| Land Assessment | $10,700 | Total Assessment | $66,800 |
Property Taxes
Parcel Number
20-34-215-037-0000
Land Assessment
$10,700
Improvements Assessment
$56,100
Total Assessment
$66,800
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8044 S Cottage Grove Ave
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