7156 S Rhodes Ave/ 7556 S Eberhart Ave Multi-Family FOR SALE


Chicago, IL - Chatham
$1,300,000 USD
773-615-2626
, Chicago, IL for Sale
$1,300,000 USD
Multi-Family - FOR SALE
1/28
null | 10.76% Cap Rate

7156 S Rhodes Ave/ 7556 S Eberhart Ave
Chicago, IL
Chatham


HIGHLIGHTS

  • Voucher-backed cash-flow portfolio
  • The portfolio sits on the 75th Street Renaissance Row corridor, proximate to the University of Chicago and the forthcoming Obama Presidential Center.
  • Dense mix of locally-owned businesses, community organizations and historic bungalow-lined residential streets
  • In-place CHA-supported rents at the portfolio average $1,437 — in line with Greater Grand Crossing lease comps at $1,379

OVERVIEW

A two-property, voucher-backed cash-flow portfolio in Greater Grand Crossing. 16 units across two 1925 Chicago brick buildings — 7156 S Rhodes Avenue and 7556 S Eberhart Avenue — with 13 × 2BR + 3 × 3BR across approximately 18,400 SF. 12 of 16 leases are voucher-backed (11 CHA + 1 AFCF) — government-backed cash flow that minimizes lease-up risk and supports reliable NOI. Operations underwrite NOI from $139,912 to $156,840 as the two vacant units lease up and HUD Payment Standards trend upward at renewal. The portfolio sits on the 75th Street Renaissance Row corridor, proximate to the University of Chicago and the forthcoming Obama Presidential Center.

ASK ABOUT THIS PROPERTY

Brian Mond33 RealtyMore Info
773-615-2626

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Brian Mond33 RealtyMore Info
773-615-2626

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