ON MARKET – MULTI-FAMILY
720 & 740 E. 79th Street Chicago, IL 60619
NEIGHBORHOOD
Chatham
PRICE
$3,600,000
NUMBER OF UNITS
67
CAP RATE
10.05%
PROPERTY LISTED

Essex has been exclusively engaged to market the sale of 720 & 740 East 79th Street, two properties on the bustling retail corridor of 79th street. These two properties display historic architecture in combination with painted murals from a
local community organization. The subject properties are located in the Chatham neighborhood of Chicago's south side.
720 E. 79th St., is a three (3) story corner property consisting of seven (7) retail spaces on the ground level, four (4) studio apartments, and twenty-two (22) one bedroom / one bathroom apartments on the second and third floors.
740 E. 79th St., is a three (3) story corner property consisting of six (6) retail spaces on the ground level, six (6) studios, and twenty-two (22) one bedroom / 1 bathroom apartments on the second and third floors.

These neighboring properties possess traditional Chicago-style apartments. Common building features include marble or tile entryways & staircases, stucco common ways, and large windows. The units feature hardwood floors, radiator heat,
large windows in every room and closets in all bedrooms for additional space. Kitchens include white appliances, laminate or vinyl countertops, and shaker-style cabinetry.

LOCATION DETAILS

Chicago south side neighborhood, Chatham offers a wide range of housing styles, including new construction high rises, single-family homes, condominiums, lofts, town homes, bungalow-style homes and historic mansions. The region also boasts several historically-significant buildings and landmark districts, such as Kenwood District and Hyde Park-Kenwood Historic District.
The area is primarily served by the Chicago Public School District. The University of Chicago is also located in Chicago South. Public transportation options for commuters include number CTA buses and ‘L' trains, as well as Metra railways with transportation to Chicago's Loop and nearby communities. Major highways also pass through the area, including the Dan Ryan Expressway, Chicago Skyway toll road and Lake Shore Drive.
Cultural opportunities abound, with the Museum of Science and Industry, the Field Museum, John G. Shedd Aquarium, Adler Planetarium, the DuSable Museum of African American History, as well as art galleries and museums located in the area. The Chicago Park District also offers residents several public parks. Notable residents have included President Barack Obama.

HIGHLIGHTS
  • 67 Units
  • Value-Add
  • Retail Hub
  • Multiple Modes of Transit
  • Cap Rate: 10.05%
  • GRM: 5.46
LISTING BROKER
Brian Mond
Director
312.662.9590