Essex Realty Group, LLC has been exclusively engaged to market for sale 7646 S Ingleside Ave, a 31-unit multifamily property in Chicago’s Greater Grand Crossing neighborhood.
Over the last two years, ownership has upgraded each of the units with the goal of getting top rents from subsidy agencies. This property features a favorable unit mix of entirely two-bedroom units with strong in-place rents, averaging $1,477. Additionally, there is strong history of collections as 27/31 units are occupied by subsidy tenants.
This offering presents the rare opportunity for an investor to acquire a stabilized, exceptionally well managed asset with a desirable unit mix and high in place rents, allowing an investor to achieve 9.6% cap and 15.5% cash-on-cash returns on day one.
–
- Great In-Place Rents: Investor to Receive 9.6% Cap Returns on Day One
- Ownership Has Upgraded All of the Units
- Desirable Unit Mix of Entirely 2 Bedroom Units
- 27 [87%] Subsidy Tenants
- Meticulously Maintained and Professionally Operated by Local Owner
- Walking Distance From 75th St CTA Red Line Station