1653 E 85th Pl - Apartments FOR SALE


Chicago, IL 60617- Calumet Heights
$1,500,000 USD
773-293-5090
1653 E 85th Pl, Chicago, IL for Sale
$1,500,000 USD
Apartments - FOR SALE
1/5
null | 9.23% Cap Rate

1653 E 85th Pl
Chicago, IL 60617
Calumet Heights


HIGHLIGHTS

  • Twenty (20) 1Bd/1Ba Units
  • Prime Calumet Heights Location
  • 100% Occupied
  • Abundance of Masonry & Tuckpointing Work

OVERVIEW

Kiser Group is pleased to exclusively present for purchase 1643 E. 85th Place, a Twenty (20) unit courtyard located in Chicago's Calumet Heights neighborhood. 1643 E. 85th Pl sits in Chicago’s South Side, offering residents solid connectivity with multiple transit options nearby and quick access to major roadways. Local amenities include nearby grocery stores, schools, and abundant park space, making it a location that blends convenience with neighborhood charm. 1643 E. 85th Pl consists of Twenty (20) 1Bd/1Ba units. All of which have spacious layouts. Recent improvements to the building consist of but are not limited to: modern boiler, code-compliant porches, and an abundance of masonry and tuckpointing work. 1643 E. 85th Pl presents an investor the opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 9.23% and cash return of 14.17%. By increasing rents to rates already achieved in the area, there is an opportunity to achieve a 11.33% cap rate and a proforma cash return of 22.58%

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$88 USD /SF

# OF UNITS

20

PRICE/UNIT

$75,000

CAP RATE

9.23%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,311 SF

ZONING

R-2, Chicago

APN/PARCEL ID

20-36-318-020-0000,20-36-318-021-0000

ASK ABOUT THIS PROPERTY

Noah BirkKiser GroupMore Info
773-293-5090

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Noah BirkKiser GroupMore Info
773-293-5090

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