Essex is pleased to announce the sale of 7908 S. Ingleside Avenue, a stately courtyard building on the bustling retail corridor of 79th street. Mechanically, this property was in great shape and had a new boiler installed just last year. There is a value-add component to this multifamily opportunity. Current rents are hovering just below market and units can be lightly updated to achieve higher rental income. Some kitchens and bathrooms can be updated to also achieve higher rental income.The subject property sits between the Chatham and Greater Grand Crossing neighborhoods of Chicago. 7908 S. Ingleside Ave. consists of fourteen (14) 1 bed / 1 bathroom, eighteen (18) 2 bed / 1 bathroom, and two (2) 2 bed / 2 bath apartment units. Classic Chicago-style apartments will 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 tile flooring.
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Located in the far Southeast Corner of Chicago, Chatham is one of the city’s 77 community areas and has a population of over 33,00 residents. The neighborhood has a Metra stop on the Metra Electric commuter rail line and a CTA Red Line station at 79th and 87th Street. Both stations are located within a mile of the Property making it an ideal location for commuters traveling to
surrounding neighborhoods and downtown Chicago 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 and the Chicago Skyway toll road and U.S. Route 20 / 95th Street, a major thoroughfare is also close by.
- Two Blocks From 79th St/Chatham Metra Station
- Large Layouts; Most Units Feature Living & Dining Rooms
- Ideal Mix of 1 Bed and 2 Bed Apartment Units
- New Boiler Installed 2022
- 2 Hot Water Tanks / 1 Hot Water Heater
- Current Rents Hovering Below Market
- Coin Operated Laundry Facility In Building