Updated Courtyard Apartment Building With 37 Units
$1,750,000
7752 S Racine
Chicago, IL 60620
40,000 SF
Multi-Family
The Details
- 37 unit courtyard apartment building totaling 40k square feet
- 33 one bedroom units and 4 large studios
- Units feature hardwood floors, updated kitchens and baths
- All units have their own forced-air heat - On-site laundry room
- Historical high occupancy
- Building is professionally managed
- 2019 NOI: $155,802
- Total Taxes (2018): $19,851
- Asking 9% cap rate
Located in an Opportunity Zone
7742-52 S Racine Avenue is a 37 unit apartment building in the Gresham neighborhood of Chicago. The building is comprised of 33 1-bed units and 4 large studios. Each apartment has been updated with many boasting newer baths and kitchens. The building has received substantial capital improvements including new windows, roof, tuckpointing, and each unit has been provided individual forcedair heat. There is a large on-site laundry room which generates additional income.
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