Essex Realty Group, Inc. has been exclusively engaged to market for sale a 3-building, 103-unit portfolio located in Chicago’s Chatham neighborhood. The properties are located at 8200 S Maryland, 7901 S Drexel, and 7845 S Avalon.
This portfolio features a favorable unit mix of mostly [28%] one-bedroom and [32%] two-bedroom units. There is an additional opportunity for an investor to add value through increasing currently below market rents.
Further contributing to this building’s cash flow is the assumable debt. The property has an assumable loan with a balance of $6,150,000 [80% LTV at list] and a below-market interest rate of 3.51%.
This portfolio presents the rare opportunity to acquire a stabilized portfolio with a desirable unit mix and achieve stellar cash-on-cash returns with a low rate, high leverage assumption.
8200 S Maryland
7901 S Drexel
7845 S Avalon
- Favorable Assumable Debt: Total Balance of $6.15MM [80% LTV at List], 3.51% IR
- Desirable Mix of Mostly One and Two-Bedroom Units
- Stabilized, Cash-Flowing Portfolio with Strong Rental Upside
- Opportunity for Investor to Achieve Stellar Cash Returns with Assumable Below-Market Interest Rate, Higher Leverage Debt
- Close Proximity to National Retailers