Essex has been exclusively engaged to market the sale of 8001-8005 S Drexel Ave,
a beautiful walkup 19 unit building at the corner of 80th & Drexel in the Chatham neighborhood in Chicago.
8001-8005 S Drexel consists of one (1) studio, eleven (11) 1 bed / 1 bathroom, and seven (7) 2 bed / 1 bathroom 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 appliances, laminate or vinyl countertops, and vinyl flooring.
There is a value-add component to this multifamily opportunity from day one of acquiring. Current rents are hovering just below market and units can be lightly updated to achieve higher rental
Located in the southeast corner of Chicago, Chatham is one of the city’s 77 community areas and has a population of over 33,00
residents. The subject property sits between the Chatham and Greater Grand Crossing neighborhoods of Chicago, in a submarket named East Chatham. From the subject property are the Metra Electric commuter rail line 0.2 miles [5 min walk] and a CTA Red Line station at 79th Street 1.2 miles [20 min walk] making it an ideal location for commuters traveling to surrounding neighborhoods and downtown to the LOOP. Major highways also pass through the area including the Dan Ryan Expressway and the Chicago Skyway Toll Road.
Grocery Stores, Pharmacies, and Schools surround the subject property and continue down the retail corridor of 79th street. The ease of transit, access to multiple route, and accessibility to shops and markets make this an ideal neighborhood to reside in.
- Large Layouts; Most Units Feature Living & Dining Rooms
- Ideal Mix of 1 Bed and 2 Bed Apartment Units
- New Boiler
- New Hot Water Tanks
- Current Rents Hovering Below Market
- Coin Operated Laundry Facility In Building