ON MARKET – MULTI-FAMILY
6800 S. Dorchester Avenue Chicago, IL 60637
NEIGHBORHOOD
Grand Crossing
PRICE
$5,300,000
NUMBER OF UNITS
62
CAP RATE
8.1%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 6800 S. Dorchester Ave. located in Chicago's Grand Crossing neighborhood. This 62 unit apartment building is comprised of twelve (11) 4-bedroom apartments, twenty-nine (30) 3-bedroom apartments, twelve (11) 2-bedroom apartments and ten (10) 1-bedroom apartments.

The property has undergone a number of capital improvements including updates and repairs to the rear porches and a new roof (tear-off, 2017). Of the 62 apartments, 28 have recently been renovated to include granite countertops, white kitchen cabinets, stainless steel appliances and baseboard heating. This provides an investor with the opportunity to acquire a well maintained building that possesses further value add potential by updating the vintage units.

LOCATION DETAILS

Grand Crossing is located on Chicago’s south side, nestled between the Woodlawn/Hyde Park communities and historic South Shore. Given its proximity to Hyde Park and South Shore, this neighborhood benefits from the multitude of developments which are taking place in the immediate area. 6800 S. Dorchester is also located steps from the finalist locations for the Barack Obama Presidential Library.

The subject property is situated between S. Dorchester Avenue, E. 68th Street, and S. Kenwood Avenue, in Chicago’s South Shore neighborhood. Jackson Park, which sits less than a half mile away from the subject property, contains an 18-hole golf course, The Museum of Science and Industry and is the site of the future Obama Presidential Center. Finally, the Stony Island train station and S. Lakeshore Drive are situated within one mile of the subject property, providing easy access to downtown Chicago.

HIGHLIGHTS
  • 8.10% Cap rate & 6.56 GRM
  • 62 units with diverse unit mix
  • Over $750,000 of capital improvements
  • New roof (tear off, 2017)
  • 28 renovated units
  • Located in Dorchester Arts District
  • Just 0.5 miles from Jackson Park Highlands
LISTING BROKERS
Brian Mond
Director
312.662.9590
Ben Bakula
Associate
773.305.4864