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Listed by Scott Siegelof Chicago Real Estate Authority
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Est. payment /mo
New
936-42 E 80th ST Chicago, IL 60619
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12651016
Year Built 1925
Annual Tax Amount $11,000
Tax Year 2024
Lot Dimensions 125 X 37
Property Sub-Type Multi Family 5+
Property Description
We are pleased to present this exceptional value-add opportunity in Chicago's highly desirable East Chatham neighborhood. Property Overview: This corner 12-unit building offers the astute investor a massive amount of financial up-side. The building is configured with 3 x 2bd/1ba and 9 x 1bd/1ba units; each with forced air heat furnaces. Mechanical upgrades have been made in the past 4 years. New 800 amp service and four 100 gallon hot water heaters. All units are individually metered for electric and gas. Coin-op laundry in the basement runs with the deal. Pro Forma Economic Performance: Annual GPI $165,600 | Annual OpEx: $20,500 | Annual NOI $145,100. Imputing a stabilized FMV, one easily arrives at a 14 pct cap rate at a $1 million dollar valuation and, on a per-unit basis, $83,333 is well-within market. An aggressive stabilization plan might also include subsidized leases, which according to the HUD SAFMR tables (2026), would take the GPI to $191,520 and the NOI to $171,020, which moves the needle from 14 to 17 pct! WOW! Neighborhood Insights: Chatham is well-known for its stable residential base and vibrant local economy; primarily along 83rd Street. This community is experiencing steady economic growth and increased housing demand, making it an attractive submarket for real estate investment. Transportation Options: The property is 3 blocks from the 79th St. (Chatham) Metra Station, 1 block to the CTA #79 bus and 3 blocks from the CTA #4 Cottage Grove bus. Need to get out of Dodge? The Dan Ryan Expressway and Chicago Skyway are 8 minutes to the East and West respectively. Investment Summation: 936-42 E. 80th represents an outstanding opportunity for a pro operator to perform moderate-level property upgrades, maximize rents and thus create a significant, long-term cash-flowing and appreciating asset, which is the best of both worlds; the Holy Grail if you will!
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Unfinished, Exterior Entry
Interior
Cooling None
Fireplace N
Exterior
View Y/N true
Building
Water Municipal Water
Structure Type Brick
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