836 S Morgan St - Apartments FOR SALE


Chicago, IL 60607- University Village
$1,350,000 USD
708-921-7952
836 S Morgan St, Chicago, IL for Sale
$1,350,000 USD
Apartments - FOR SALE
1/9
null | 6.79% Cap Rate

836 S Morgan St
Chicago, IL 60607
University Village


HIGHLIGHTS

  • Exceptionally rare opportunity to acquire one of only three rental properties on Morgan Street directly across from the UIC campus.
  • Fully occupied three-unit property with written leases through July 31, 2027, generating $108,900 in annual contract rent.
  • Trailing net operating income of $91,638, representing a 6.79% capitalization rate at the $1,350,000 asking price.

OVERVIEW

Brookline Real Estate, LLC exclusively presents 836 S.? Morgan Street, an exceptionally rare, fully leased three-unit investment property directly across from the University of Illinois Chicago campus.? As one of only three rental properties on Morgan Street opposite the university, the offering provides an irreplaceable location within one of Chicago’s most established educational and medical districts.? The property benefits from immediate access to the UIC-Halsted Blue Line station, the Illinois Medical District, downtown Chicago and the restaurants and amenities of Little Italy and University Village.? Record enrollment at UIC, a predominantly renter-occupied surrounding market and limited competition from comparable small multifamily properties support the asset’s long-term rental appeal.? The building currently generates stable income from its three apartments, along with additional revenue from parking and coin-operated laundry.? Each unit offers central heating and air conditioning, and the property includes rear tandem parking for multiple vehicles.?

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$456 USD /SF

# OF UNITS

3

PRICE/UNIT

$450,000

CAP RATE

6.79%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

836 S Morgan St

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,029 SF

ZONING

RT-4

APN/PARCEL ID

17-17-421-068-0000

ASK ABOUT THIS PROPERTY

William LundyBrookline Real EstateMore Info
708-921-7952

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William LundyBrookline Real EstateMore Info
708-921-7952

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