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Chatam II 8054 S Ingleside Ave 45 Unit Apartment Building $2,800,000 ($62,222/Unit) 10.60% Cap Rate Chicago, IL 60619
Executive Summary
8044 S Ingleside Avenue is an established 45-unit courtyard building in East Chatham featuring 7
studio units, 13 1-bedroom units, and 25 2-bedroom layouts. This cash-flowing investment property
offers significant upside potential through strategic rent bumps, benefiting from the neighborhood's
stable rental fundamentals. The property's strong unit mix provides excellent rental demand and
flexibility.
East Chatham's steady growth and development create favorable conditions for rental rate
increases and long-term value appreciation. With below-market rents in place, this property
presents an excellent opportunity to implement strategic rent increases
studio units, 13 1-bedroom units, and 25 2-bedroom layouts. This cash-flowing investment property
offers significant upside potential through strategic rent bumps, benefiting from the neighborhood's
stable rental fundamentals. The property's strong unit mix provides excellent rental demand and
flexibility.
East Chatham's steady growth and development create favorable conditions for rental rate
increases and long-term value appreciation. With below-market rents in place, this property
presents an excellent opportunity to implement strategic rent increases
Property Facts
| Price | $2,800,000 | Property Subtype | Apartment |
| Price Per Unit | $62,222 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 10.60% | Lot Size | 0.46 AC |
| Gross Rent Multiplier | 4.5 | Building Size | 36,000 SF |
| No. Units | 45 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1929/2012 |
| Zoning | R-3, Chicago | ||
| Price | $2,800,000 |
| Price Per Unit | $62,222 |
| Sale Type | Investment |
| Cap Rate | 10.60% |
| Gross Rent Multiplier | 4.5 |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 36,000 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1929/2012 |
| Zoning | R-3, Chicago |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | - |
| 1+1 | 13 | - | - |
| 2+1 | 25 | - | - |
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Number | 20-35-109-027-0000 | Improvements Assessment | $266,358 |
| Land Assessment | $30,482 | Total Assessment | $296,840 |
Property Taxes
Parcel Number
20-35-109-027-0000
Land Assessment
$30,482
Improvements Assessment
$266,358
Total Assessment
$296,840
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Chatam II | 8054 S Ingleside Ave
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