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8907 S Cottage Grove Ave
Chicago, IL 60619
Multifamily Property For Sale
·
10 Units
Investment Highlights
- (8) 1 BD/1 BA & (2) Ground Floor Commercial
- In Unit Furnaces and Water Tanks Throughout
- All Units Renovated with Updated Kitchens and Baths
- Long Standing Commercial Tenant/20+ Years Of Occupancy
- Under Market Rents (AVG 1 BD Rent: $712)
- Long Term Ownership Group/First Time Being Offered for Sale in 25 Years
Executive Summary
Interra Realty LLC has been exclusively engaged to present for sale 8907-09 S. Cottage Grove Ave. A center entrance, 10 unit mixed use asset featuring (2) ground floor commercial units occupied by a day care with a 20 year occupancy history and (8) 1 BD/1 BA units. Located in Chicago's Chatham neighborhood off a main commercial throughfare, the property has been pridefully maintained and managed by a long term ownership group and presents a significant value add component by bringing rents to market levels upon tenant turnover.
Current ownership has renovated all units with individual furnaces and water tanks throughout. A qualified investor has the opportunity to acquire a turn key, well managed, stabilized asset in one of Chicago's fastest appreciating submarkets with the ability to continue to increase rents to the top of the market
Current ownership has renovated all units with individual furnaces and water tanks throughout. A qualified investor has the opportunity to acquire a turn key, well managed, stabilized asset in one of Chicago's fastest appreciating submarkets with the ability to continue to increase rents to the top of the market
Property Facts
| Price Per Unit | $72,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.80% | Lot Size | 0.17 AC |
| No. Units | 10 | Building Size | 9,600 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1926 |
| Zoning | RT-4 - Residential | ||
| Price Per Unit | $72,500 |
| Sale Type | Investment |
| Cap Rate | 7.80% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 9,600 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Zoning | RT-4 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 8 | - | - |
Property Taxes
| Parcel Number | 25-02-106-002-0000 | Improvements Assessment | $71,450 |
| Land Assessment | $11,250 | Total Assessment | $82,700 |
Property Taxes
Parcel Number
25-02-106-002-0000
Land Assessment
$11,250
Improvements Assessment
$71,450
Total Assessment
$82,700
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