Located in Chicago’s South Chicago neighborhood, this multi-family brick building, built in 1929, offers 12 bedrooms, 6 bathrooms, and 5,227 square feet of living space on a 0.09-acre lot. The property consists of six units (each 2 bed / 1 bath) with an unfinished basement. Four of the six units are currently tenant-occupied (two rented via Section 8, two at market rate). Showings are available by appointment only.

Financial Snapshot

The property is offered at a marketing price of $454,900. The projected after-repair value (ARV) is $635,000, supported by recent comparable sales in the neighborhood:

• 7829 S Essex Ave – 12 bed / 6 bath, 3-unit, sold for $484,000 (07/01/2024)
• 7810 S Jeffery Blvd – 11 bed / 8 bath, 4-unit, sold for $510,000 (05/15/2025)
• 7821 S Yates Blvd – 8 bed / 4 bath, 3-unit, sold for $642,000 (04/09/2025)

Estimated gross rental income potential is $8,400 per month, with current rental income at $4,800 per month. Annual property taxes are $5,100.

Property Overview

This solid brick six-unit building has recently received significant updates, including new mechanicals, updated plumbing and electrical systems, and new flooring throughout. While four units are already rented, two remain vacant, offering the opportunity to achieve full occupancy and maximize cash flow. The basement is unfinished and offers potential storage or common area use.

Investment Highlights

• Unit Breakdown: Six 2 bed / 1 bath units
• Occupancy: 4 of 6 units currently occupied (2 Section 8, 2 market rate)
• Recent Upgrades: New mechanicals, electrical, plumbing, and flooring
• Cash Flow Potential: Stabilize to $8,400/month rent roll
• Upside: Add value through minor finishing touches and achieve higher stabilized returns

Market Context

South Chicago has experienced consistent multi-family demand, with Section 8 providing dependable rental income and strong occupancy rates. Investor interest continues to grow in the area, driven by proximity to Lake Michigan, recent infrastructure improvements, and ongoing community redevelopment efforts. Comparable multi-family buildings are trading at steadily increasing values, creating strong exit potential for both long-term holds and resale strategies.

Terms

Cash or hard-money buyers only. Seller financing is not available.

Contact

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