2800 E 87th St - Apartments FOR SALE


Chicago, IL 60617- South Chicago
$900,000 USD
248-977-0226
2800 E 87th St, Chicago, IL for Sale
$900,000 USD
Apartments - FOR SALE
1/7
null | 8.2% Cap Rate

2800 E 87th St
Chicago, IL 60617
South Chicago


HIGHLIGHTS

  • Highly Desirable Unit Mix: (5) 3 BD/2 BA and (1) Ground Floor Retail
  • Condo quality finishes throughout with modern aesthetic
  • Property was gut renovated in 2023 featuring brand new roof, windows, and mechanicals.
  • Individual furnaces/water tanks in throughout
  • 1200 Sq. Ft. ground floor retail featuring on site bathroom. Daycare lease in place through 03/31/2027 at $2300/Mo
  • Strong curb appeal/Located off main commercial thoroughfare

OVERVIEW

Interra Realty has been exclusively engaged to present for sale 2800 E. 87th St. The subject property is an all brick 6 unit mixed use asset in Chicago's South Chicago neighborhood. The property features (1) ground floor retail and (5) apartment units. The apartment unit layouts consist of (5) 3 BD/2 BA units. The building was extensively renovated in 2023 with brand new mechanicals, windows, and plumbing. The units have spacious layouts with condo quality finishes and a modern aesthetic throughout. There are individual furnaces and water tanks. The retail unit has nearly 1200 Sq. Ft. of functional space with an onsite bathroom and additional storage in basement. A qualified investor has the opportunity to acquire a gut renovated, turn key asset with the ability to drive NOI through lease up and management. The property boasts strong curb appeal and benefits from being located off a main commercial thoroughfare.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

5

PRICE/UNIT

$180,000

CAP RATE

8.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,723 SF

ZONING

B3-2

APN/PARCEL ID

21-31-422-032-0000

ASK ABOUT THIS PROPERTY

Max GrossmanInterra RealtyMore Info
248-977-0226

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Max GrossmanInterra RealtyMore Info
248-977-0226

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