8907 S Cottage Grove Ave - Apartments FOR SALE


Chicago, IL 60619- Burnside
$725,000 USD
248-977-0226
8907 S Cottage Grove Ave, Chicago, IL for Sale
$725,000 USD
Apartments - FOR SALE
1/6
null | 7.8% Cap Rate

8907 S Cottage Grove Ave
Chicago, IL 60619
Burnside


HIGHLIGHTS

  • (8) 1 BD/1 BA & (2) Ground Floor Commercial
  • Long Standing Commercial Tenant/20+ Years Of Occupancy
  • In Unit Furnaces and Water Tanks Throughout
  • Under Market Rents (AVG 1 BD Rent: $712)
  • All Units Renovated with Updated Kitchens and Baths
  • Long Term Ownership Group/First Time Being Offered for Sale in 25 Years

OVERVIEW

Interra Realty LLC has been exclusively engaged to present for sale 8907-09 S. Cottage Grove Ave. A center entrance, 10 unit mixed use asset featuring (2) ground floor commercial units occupied by a day care with a 20 year occupancy history and (8) 1 BD/1 BA units. Located in Chicago's Chatham neighborhood off a main commercial throughfare, the property has been pridefully maintained and managed by a long term ownership group and presents a significant value add component by bringing rents to market levels upon tenant turnover. Current ownership has renovated all units with individual furnaces and water tanks throughout. A qualified investor has the opportunity to acquire a turn key, well managed, stabilized asset in one of Chicago's fastest appreciating submarkets with the ability to continue to increase rents to the top of the market

FOR SALE DETAILS

PRICE

$725,000 USD

PRICE/SF

$76 USD /SF

# OF UNITS

10

PRICE/UNIT

$72,500

CAP RATE

7.8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

RT-4

APN/PARCEL ID

25-02-106-002-0000

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 Notice.