Essex Realty Group, Inc. has been exclusively engaged to market for sale the Davis Apartments, a 60-unit multifamily portfolio located at 1025–1049 W Vermont Avenue in Calumet Park, Illinois. Built in 1966, the 60-unit portfolio comprises three adjacent 20-unit brick apartment buildings that have been owned and operated by the same family since 1988, reflecting decades of consistent care and hands-on management.

The buildings feature a desirable unit mix of Thirty-Nine (39) one-bedroom/one-bathroom and Twenty-One (21) two-bedroom/one-bathroom apartments, averaging 650–800 square feet, each with a private balcony and access to 60 surface parking spaces. The Property has been well maintained throughout ownership, including a full tear-off pitched shingle roof replacement in 2012. Interiors feature clean, functional finishes with standard kitchens, durable flooring, and tiled bathrooms, while exteriors present classic mid-century brick façades and neatly landscaped courtyards.

The Davis Apartments is ideally situated in Calumet Park; a stable south suburban community located approximately 15 miles south of downtown Chicago. The Property enjoys convenient access to major thoroughfares including I-57, I-294, and 127th Street, as well as the Metra Electric Line, which provides direct service to downtown Chicago. The area offers a well-established residential base supported by nearby retail corridors along South Halsted Street and 127th Street, featuring grocery stores, restaurants, and essential services.

At current in-place rents, the Davis Apartments operates at a 7.57% cap rate, generating steady income with 100% occupancy. With market rents of $1,150 for one-bedroom and $1,350 for two-bedroom units, investors can achieve a 8.01% stabilized cap rate and 9.87% cash-on-cash return, supported by an efficient 40% expense ratio. The Property’s proven operating history, below-market rents, and stable suburban location create an appealing opportunity for investors seeking durable cash flow with measurable upside.

Located approximately 15 miles south of downtown Chicago, Calumet Park is a mature and stable south suburban community within Cook County. The village benefits from its strategic position near major transportation arteries, including Interstate 57, Interstate 294 (Tri-State Tollway), and Interstate 80, offering residents and businesses exceptional regional connectivity. The 127th Street Metra Electric Station provides direct commuter access to Chicago’s central business district, making the area attractive to working professionals seeking affordable housing with convenient access to the city.

Calumet Park features a balanced mix of residential, retail, and light industrial uses that support steady local employment and a strong tenant base. Retail corridors along South Halsted Street and 127th Street provide residents with essential amenities, dining, and shopping options, while nearby Blue Island, Alsip, and Harvey offer additional employment and commercial centers. The community’s affordable cost of living, well-established infrastructure, and proximity to major transportation routes make it a reliable submarket for multifamily investment with consistent occupancy and rent growth potential.

• Desirable Unit Mix: (39) 1Bd/1Ba and (21) 2Bd/1Ba apartments averaging 702 SF
• Long-Term Ownership: Same family ownership and management since 1988
• Capital Improvements: Full pitched shingle roof tear-off and replacement (2012)
• Prime South Suburban Location: Minutes from I-57, I-294, and Metra, with strong workforce housing demand