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$ 1,700,000
Est. payment | /mo
$ 1,700,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12762329
Maintenance Fees $22,648
Year Built 1925
Annual Tax Amount $31,248
Tax Year 2024
Lot Dimensions 90x156
Property Sub-Type Multi Family 5+
Property Description
32-unit courtyard building in Chicago's Greater Grand Crossing submarket, offered at $1,700,000 ($53,125/unit | $75.89/SF). This 1925-built, ~22,400 SF brick courtyard property spans four entrances (7042, 7044, 7046, 7048) and delivers immediate in-place income with clear upside baked into the rent roll. Sub-$60K/unit basis with income already in place, as only two units require lease-up. Rents are meaningfully below market across the entire mix, giving a new owner a straightforward, low-risk path to NOI growth without a heavy capex program. Porches were replaced in 2007, with permitted repairs completed in 2019. Situated in Greater Grand Crossing, a renter-dominant submarket with strong transit reliance, supporting durable workforce rental demand - a large share of households have no vehicle and rely on transit for commuting. Healthcare and education anchor local employment, with the Loop as the largest commuter destination. The property sits within a short drive of University of Chicago, UChicago Medicine, Jackson Park, the DuSable Museum, and the Obama Presidential Center, with everyday retail (Walgreens, ALDI, Dunkin', Subway, Mobil) all within a mile. Offering Memorandum with staged interior photos available upon request.
Location
State IL
County Cook
Area Chi - Greater Grand Crossing
Zoning MULTI
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
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Listed by Kevin Rocio of @properties Commercial
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