Essex Realty Group has been exclusively engaged to market for sale the California–Laflin Portfolio, a 115-unit multifamily investment comprised of seven well-maintained buildings strategically positioned across Chicago’s South Side neighborhoods of Chicago Lawn, Gresham, and Chatham. The Portfolio offers investors immediate scale, strong in-place cash flow, and durable debt coverage in a stabilized operating environment. Currently operating at 94% occupancy, the offering provides a compelling going-in yield at a 9.35% cap rate and an attractive $85,000 per unit basis. The portfolio generates approximately $421,512 in annual cash flow before tax, delivering a 14.4% year-one cash-on-cash return and a projected 20% five-year IRR under conservative underwriting assumptions. With a current 1.86x debt service coverage ratio, the asset demonstrates both strong income durability and lender-aligned performance metrics.

A defining component of the offering is the California/Fairfield cluster, consisting of 68 units located within immediate walking distance in Chicago Lawn near Marquette Park. The cluster includes 6321–6331 South California Avenue (31 units), 6355–6357 South California Avenue (18 units), and 6400–6402 South Fairfield Avenue (19 units). Positioned within the same contiguous neighborhood footprint, these assets effectively operate as a campus-style complex while maintaining separate parcel flexibility. This operational density allows for centralized leasing, streamlined maintenance routing, reduced turnover costs, and efficiencies typically associated with larger single-site properties.

The remaining properties complement the portfolio’s scale and geographic positioning across established South Side neighborhoods. 7705–7717 South Laflin Street (22 units) is located in Gresham along a stable residential corridor. In Chatham, 1701–1705 East 85th Street (8 units) and 1654 East 85th Street are positioned in close proximity, creating additional operational density, while 8128–8130 South Maryland Avenue (6 units) further enhances the portfolio’s presence in the submarket. Collectively, the diverse mix of studios, one-, two-, and three-bedroom units broadens the tenant base and supports long-term occupancy stability. The combination of concentrated operational clusters and measured geographic diversification positions the California–Laflin Portfolio as a high-yield, operationally efficient multifamily investment opportunity.

Chicago Lawn is a densely populated, workforce-oriented neighborhood on Chicago’s Southwest Side located approximately eight miles from Downtown. Characterized by a strong concentration of brick two-flats, courtyard buildings, and mid-sized multifamily assets, the area supports consistent rental demand driven by affordability relative to other Chicago submarkets. Anchored by Marquette Park and supported by retail corridors along 63rd Street and Kedzie Avenue, the neighborhood offers essential amenities and public transit access, including CTA bus lines and proximity to the Orange Line and Midway Airport. For investors, Chicago Lawn provides attractive basis, durable in-place cash flow, and long-term demand fundamentals within a stable workforce housing submarket.

Chatham and Greater Grand Crossing neighborhoods in the East Chatham submarket, the area is a well-established residential community of over 33,000 residents with strong transportation connectivity. The property is just 0.2 miles from the Metra Electric Line and 1.2 miles from the CTA Red Line at 79th Street, with additional access to the Dan Ryan Expressway and Chicago Skyway, providing convenient routes to Downtown and surrounding employment hubs. The neighborhood is supported by a strong retail presence along 79th Street, including grocery stores, pharmacies, and schools, reinforcing stable residential demand and long-term workforce housing fundamentals.

• 115-unit South Side Chicago portfolio (Chicago Lawn, Gresham, Chatham) comprising 51 one-bedrooms, 37 two-bedrooms, 15 three-bedrooms, and 12 studios
• 9.35% in-place cap rate with a clear path to 10.3% stabilized
• $421,512 in-place cash flow before tax | 14.4% cash-on-cash return | 20% 5-year IRR
• 1.86x DSCR
• 94% occupancy with strong rent comparables supporting organic rent growth
• 68-unit California/Fairfield operational cluster driving management efficiency and economies of scale