Located in Chicago’s Chatham neighborhood, this solid brick 2-unit building, built in 1925, offers a total of 6 bedrooms, 2 bathrooms, and 3,538 square feet of living space on a 3,720 square foot lot. Each unit features 3 bedrooms and 1 bathroom. The property includes an unfinished basement with value-add potential. Currently, one unit is occupied and the second unit is vacant. The property will be delivered vacant at closing. Showings are available by appointment only.

Financial Snapshot

The property is offered at a marketing price of $214,700. The projected after-repair value (ARV) is $395,000, supported by recent comparable sales in the neighborhood:

• 8034 S Eberhart Ave – 2 Unit Renovated, sold for $415,000 (09/23/2025)
• 8226 S Langley Ave – 2 Unit Renovated, sold for $410,000 (08/18/2025)
• 8034 S Vernon Ave – 2 Unit Basic Rehab, sold for $350,000 (01/02/2025)

Estimated rental income is $1,500 per unit, with annual property taxes of $4,430.77.

Property Overview

This is a classic Chicago brick 2-flat with strong bones and significant upside potential. Both units feature spacious layouts with 3 bedrooms and 1 bathroom each. The basement remains unfinished, presenting an opportunity to add value through expansion or modernization. Currently tenant-occupied in one unit, the building will be delivered vacant at closing, providing immediate flexibility for investors.

Investment Highlights

This property represents a strong value-add opportunity in Chatham, where renovated 2-flats are commanding top market prices. Investors can capitalize on value through cosmetic and mechanical updates, with potential to generate steady rental income or pursue a profitable resale. With an ARV of $395,000 and consistent neighborhood demand, the property supports both fix-and-flip and buy-and-hold strategies.

Market Context

Chatham continues to attract investor attention with stable rental demand and strong resale values. Home values in the neighborhood have appreciated steadily over the past five years, supported by local amenities, accessibility, and ongoing revitalization efforts. The area is known for dependable tenant demand, making it a reliable cash-flowing market for investors.

Terms

Cash or hard-money buyers only. Seller financing is not available. Closing deadline is October 30, 2025.

Contact

For all inquiries, showing requests, or additional information, please call 1-888-775-4570 or email sales@sharpedgeproperty.com.