ON MARKET – MULTI-FAMILY
6222 S. Claremont Ave. Chicago, IL 60636
PRICE
$1,250,000
NUMBER OF UNITS
17
CAP RATE
8.49%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively retained to market for sale The Claremont Collection located in the Chicago Lawn neighborhood on Chicago’s south side. The portfolio includes 17 renovated apartments and approx. 9,500 SF of buildable land that is currently being used as parking lots to generate additional income. The portfolio is comprised of four (4) parcels including 6222-26 S. Claremont Ave., 6206 S. Claremont Ave., 6241 S. Claremont Ave., and 6245 S. Claremont Ave.. The apartment buildings are fully occupied brick walkups that have been meticulously maintained over the years. 6222-26 S. Claremont Ave. is a 15-unit building with three (3) 1 Bed / 1 Bath, and twelve (12) 2 Bed / 1 Bath layouts. 6206 S. Claremont Ave. is a 2-unit apartment building consisting of two (2) 2 Bed / 1 Bath layouts and parking in the rear. The apartments have recently been fully updated with condo finishes. Updates to the interiors include granite countertops, black appliances, espresso wood cabinetry, and new hardwood flooring. All apartments feature individual gas forced furnace that provides both heat and air-conditioning to the units. Electricity has been recently updated, and is also separately metered; therefore, gas and electricity are tenant paid utilities.

A new owner has the rare opportunity to acquire two fully occupied multi-family assets with neighboring adjacent lots that can produce income as-is or be repositioned via redevelopment. This portfolio provides a new owner with a chance to operate turnkey apartment assets while increasing rents to market rate with little to no additional capital. Overall, this is a unique offering that allows a new buyer to acquire multifamily assets individually or as a portfolio with significant rental and development upside in a pocket of Chicago that has seen tremendous growth over the years.

6222-26 S. Claremont Ave.: $950,000 | 15 Units | 9.76% CAP | 6.35 GRM
6206 S. Claremont Ave.: $200,000 | 2 Units | 7.97% CAP | 7.50 GRM
6241-45 S. Claremont Ave.: $100,000 | 2 Lots | 9,500 SF

LOCATION DETAILS

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HIGHLIGHTS
  • Chicago Lawn Location
  • 17 Total Apartments & 2 Vacant Lots
  • Completely Updated One & Two Bedroom Layouts
  • Significant Rental Upside
  • Separately Metered Heat, Hot Water, & Electric
  • Extremely Motivated Seller
  • Properties are Offered as a Portfolio or Sold Individually
LISTING BROKERS
Steven Livaditis
Principal
773.305.4840
Jacob Goldstein
Director
773.305.4896
Reuben Blackman
Associate
773.305.4848