ON MARKET – MULTI-FAMILY
404 E. 79th Street Chicago, IL 60619
NEIGHBORHOOD
Chatham
PRICE
$725,000
NUMBER OF UNITS
21
CAP RATE
1.77%
PROPERTY LISTED

Essex Realty Group Inc., is pleased to present for sale 404 E. 79th Street located in Chicago's Chatham neighborhood. This Mixed-Use investment property is in a prime location surrounded by retail hubs, multiple modes of transportation, and an abundance of restaurant options.
The subject property is comprised of seven (7) retail spaces, one (1) studio apartment, ten (10) one bed / one bathroom apartments, and three (3) two bed / one bathroom apartments. The current tenants are long term both in the retail as well as in apartment units. Each unit has individual heat. 100 Amps/ unit. The apartments will feature hardwood flooring, large windows, and modestly maintained kitchens. There is a full basement where a laundry facility can easily be installed. Tenants have full access to a large courtyard in the rear of the building which can be accessed by newly installed exterior porches. A new roof layer has also recently been installed. An oversized three-car garage can be rented out or is perfect for an investor who would like to maintain the property themselves, with plenty of space for building supplies and landscaping materials.

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
  • Value-Add Investment
  • Individual Heat
  • 30% Under Market Rents
  • 3-Car Garage
  • Prime Location on Martin Luther King Drive
  • Booming Retail Hub
  • Long Term Tenants
LISTING BROKER
Brian Mond
Director
312.662.9590