45 Units | 10.05% Cap Rate 808 W 76th St 45 Unit Apartment Building $2,125,000 ($47,222/Unit) 10.05% Cap Rate Chicago, IL 60620

Kiser Group is pleased to exclusively offer for purchase the sale of 808 W. 76th St, a forty-five (45) unit building in the historic Auburn Gresham neighborhood of Chicago’s South Side. The building is ideally situated just blocks from Hamilton Park as well as an abundance of public transportation options, including 75th St. bus lines.
808 W. 76th St. is comprised of six (6) commercial spaces, fifteen (15) 1B/1Ba units, and twenty-four (24) Studios. All of which have been meticulously maintained with modern kitchens and baths. Recent capital improvements to the building consist of, but are not limited to: updated electric, newer boiler (2020), and an abundance of masonry work.
808 W. 76th St. presents an investor with the opportunity to acquire a stabilized asset in Chicago's Auburn Gresham neighborhood. From day one, a new operator will capitalize on an incredibly strong and long-term tenant base with an in place cap rate of 10% and a proforma cap rate of 13.99%. Furthermore, given that some of units have not been recently updated, there is a strong value-add component by stabilizing the below market rate tenants through attrition and lease renewals.