Essex Realty Group Inc., is pleased to announce the sale of 404 E. 79th Street located in Chicago’s Chatham neighborhood. This Mixed-Use investment property is on a prime corner of Martin Luther King Drive and 79th Street; a booming location surrounded by retail hubs, multiple modes of transportation, and an abundance of restaurant options.
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. 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. 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.
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.
- Price Per Unit : $31,250
- Value-Add Investment
- Under Contract in 14 days - No Contingencies
- Individual Heat
- 30% Under Market Rents
- 3-Car Garage
- Prime Location on Martin Luther King Drive
- Bustling Retail Hub
- Long Term Tenants