1210 W 83rd St - Apartments FOR SALE


Chicago, IL 60620- Gresham
$899,926 USD
708-691-0833
1210 W 83rd St, Chicago, IL for Sale
$899,926 USD
Apartments - FOR SALE
1/33
null | 24.5% Cap Rate

1210 W 83rd St
Chicago, IL 60620
Gresham


HIGHLIGHTS

  • Recent capital improvements including 5 recently remodeled vacant units
  • All Vinyl Windows
  • Significant value add potential

OVERVIEW

UNRIVALED 25-UNIT VALUE-ADD OPPORTUNITY IN THE HEART OF AUBURN GRESHAM Strike while the market is hot with this massive brick mixed-use powerhouse located at 1206-1210 W 83rd St. Positioned as the most competitive investment in the 60620 zip code, this asset is priced for a high-octane liquidation at just $899,000. This is a rare chance to secure a scale-level project at approximately $36,000 per door in a submarket that has seen a 21.7% year-over-year increase in median listing prices. The heavy lifting on capital expenditures has already been initiated with five units completely transformed into designer showcases. These renovated units feature sleek shaker cabinetry paired with premium white quartz countertops and a full suite of stainless steel appliances. The aesthetics are elevated by modern porcelain tile in the bathrooms, sophisticated matte black fixtures, and a mix of luxury vinyl plank and meticulously refinished original hardwoods. Throughout the building, new vinyl windows provide immediate energy efficiency and longterm cost savings. Operating at 40% occupancy, this property offers an immediate lease-up upside at 2026 market rates. The five high-visibility storefronts under flexible B3-2 zoning provide a versatile commercial engine or potential for residential conversion. Furthermore, the bottom line is set for a massive boost with property taxes projected to drop from $32,000 to just $12,000 next year. This is an "as-is" sale perfect for cash or hard money buyers looking to move fast and capture the best price-per-unit deal on the South Side. Forget the "unknowns" of a total gut rehab. We've already done the heavy lifting on the most critical components: Renovated Showcase Units: 5 units have been completely transformed with high-end designer finishes to set the new building standard. Designer Kitchens: Sleek shaker cabinetry, premium quartz countertops, and a full suite of stainless steel appliances. Spa-Inspired Baths: Modern porcelain tile, matte black fixtures, and custom LED lighting. Premium Flooring: A sophisticated mix of Luxury Vinyl Plank (LVP) and meticulously refinished original hardwoods. Energy Efficiency: The building features updated vinyl windows throughout, drastically reducing future CapEx. System Integrity: Recent maintenance includes fixed leaks and plumbing updates, ensuring a smoother transition for the new owner. THE UPSIDE: THE NUMBERS DON'T LIE Immediate Lease-Up Potential: Currently 40% occupied, allowing you to hand-select your tenant base at 2026 market rates. Commercial Engine: 5 vacant storefronts under flexible B3-2 zoning-perfect for retail, service, or potential residential conversion. Tax Transformation: Significant bottom-line boost incoming with property taxes projected to drop from $32k to just $12k next year. Priced to Move: At approximately $36,000 per door, this is an aggressive liquidation play designed for a 30-45 day exit.

FOR SALE DETAILS

PRICE

$899,926 USD

PRICE/SF

$35 USD /SF

# OF UNITS

25

PRICE/UNIT

$35,997

CAP RATE

24.5%

% LEASED

45%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Manufactured Housing/Mobile Housing, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

B3-2

APN/PARCEL ID

20-32-131-035-0000

ASK ABOUT THIS PROPERTY

Pete ChrysanthouPrime Real Estate GroupMore Info
708-691-0833

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Pete ChrysanthouPrime Real Estate GroupMore Info
708-691-0833

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.