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836 S Morgan St - 836 S Morgan St 3 Unit Apartment Building Offered at $1,350,000 at a 6.79% Cap Rate Chicago, IL 60607
Investment Highlights
- Exceptionally rare opportunity to acquire one of only three rental properties on Morgan Street directly across from the UIC campus.
- Trailing net operating income of $91,638, representing a 6.79% capitalization rate at the $1,350,000 asking price.
- Fully occupied three-unit property with written leases through July 31, 2027, generating $108,900 in annual contract rent.
Executive Summary
Brookline Real Estate, LLC exclusively presents 836 S.? Morgan Street, an exceptionally rare, fully leased three-unit investment property directly across from the University of Illinois Chicago campus.? As one of only three rental properties on Morgan Street opposite the university, the offering provides an irreplaceable location within one of Chicago’s most established educational and medical districts.?
The property benefits from immediate access to the UIC-Halsted Blue Line station, the Illinois Medical District, downtown Chicago and the restaurants and amenities of Little Italy and University Village.? Record enrollment at UIC, a predominantly renter-occupied surrounding market and limited competition from comparable small multifamily properties support the asset’s long-term rental appeal.?
The building currently generates stable income from its three apartments, along with additional revenue from parking and coin-operated laundry.? Each unit offers central heating and air conditioning, and the property includes rear tandem parking for multiple vehicles.?
The property benefits from immediate access to the UIC-Halsted Blue Line station, the Illinois Medical District, downtown Chicago and the restaurants and amenities of Little Italy and University Village.? Record enrollment at UIC, a predominantly renter-occupied surrounding market and limited competition from comparable small multifamily properties support the asset’s long-term rental appeal.?
The building currently generates stable income from its three apartments, along with additional revenue from parking and coin-operated laundry.? Each unit offers central heating and air conditioning, and the property includes rear tandem parking for multiple vehicles.?
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Property Facts
| Price | $1,350,000 | Property Type | Multifamily |
| Price Per Unit | $450,000 | Building Size | 2,960 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 6.79% | No. Stories | 3 |
| No. Units | 3 | Year Built | 1968 |
| Price | $1,350,000 |
| Price Per Unit | $450,000 |
| Sale Type | Investment |
| Cap Rate | 6.79% |
| No. Units | 3 |
| Property Type | Multifamily |
| Building Size | 2,960 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1968 |
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Exceptionally walkable
90/100
Very drivable
80/100
Exceptional public transit
90/100
Very bikeable
80/100
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836 S Morgan St - 836 S Morgan St