ON MARKET – MULTI-FAMILY
8000 S. Ashland Avenue Chicago, IL 60620
NEIGHBORHOOD
Auburn Gresham
PRICE
$1,149,000
NUMBER OF UNITS
22
CAP RATE
10.26%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale, 8000 S. Ashland Avenue, a 22 unit property in the Auburn Gresham neighborhood, located just 20 minutes south of Downtown Chicago. The mixed-use property received remodeling, maintenance and updates to over 80% of the units all while preserving its historic architecture and grandeur.

8000 S. Ashland Avenue has a unit mix comprised of twelve (12) studios, & four (4) 1 Bed / 1 Bath apartments. There are an additional six (6) retail units on main level, each with one bathroom.
Newly remodeled apartments feature wood cabinets, modern countertops, new appliances, and spacious living areas. The common-ways and stairs have been greatly maintained and feature modern LED lighting and carpeting throughout. There are consistently low vacancies as this is a very popular area of Auburn Gresham, Chicago.

LOCATION DETAILS

Auburn Gresham is on the South Side of Chicago just west of Chatham, spanning from 75th to 91st streets. Like many South Side communities, it grew rapidly after the World’s Columbian Exposition of 1893. Also known as Gresham, this area is a historic neighborhood of Chicago that has been introduced to some major landmark investments. There are a few architectural projects in development as well as the City of Chicago's Invest South / West Initiative. This neighborhood has seen great economic upside in the last few years and continues to grow with more and more investment.

Just outside the Auburn Gresham community area is Auburn Park, with a lagoon that bends around five acres of green land in the middle of a neighborhood with a blend of bungalows and apartment buildings. According to the Chicago Park District, Auburn Park is land that was once owned by Chicago’s first mayor, William B. Ogden.

Lastly, transit is made extremely easy as this neighborhood is surrounded by 2 separate Metra Services, major CTA Bus Lines, the Red Line, as well as the Dan Ryan Expressway. Commuters coming to and from downtown have ease of transportation while living here.

HIGHLIGHTS
  • New Roof 2020
  • New Boiler 2020
  • New Water Heater 2020
  • Excellent Location With Neighborhood Investments
  • Well Maintained Original Chicago Architecture
  • Close to Multiple Modes of Transportation
LISTING BROKERS
Brian Mond
Director
312.662.9590
Erica Trejo
Senior Analyst
773.305.4864