1619 E 70th St - Apartments FOR SALE


Chicago, IL 60649- South Shore
$999,000 USD
773-603-7716
1619 E 70th St, Chicago, IL for Sale
$999,000 USD
Apartments - FOR SALE
1/8
null | 7.99% Cap Rate

1619 E 70th St
Chicago, IL 60649
South Shore


OVERVIEW

1619 E. 70th represents a turn-key investment opportunity in the desirable Jackson Park Highlands neighborhood. The building consists of seven units: six 2-bedroom, 1-bathroom apartments and a garden studio. It also has a 1-car garage that has been consistently rented for over four years. In 2021, the Property underwent an extensive gut renovation, including updates to all building mechanicals, common areas, and systems, with permits and a certificate of occupancy issued by the City of Chicago. Each unit is equipped with central heating and air conditioning, with tenants responsible for their own gas and electric utilities. Additionally, on-site coin laundry provides additional income. 1619 E. 70th is a five-minute walk from the Stony Island Metra stop, offering a seamless 20-minute commute into downtown Chicago. This Property offers a straightforward investment opportunity with projected cash-on-cash returns that are realistic as all major capital improvements are complete. Your management effort is simply keeping the building leased and keeping pace with market rent increases.

FOR SALE DETAILS

PRICE

$999,000 USD

PRICE/SF

$143 USD /SF

# OF UNITS

7

PRICE/UNIT

$142,714

CAP RATE

7.99%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1925

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

B1-2

APN/PARCEL ID

20-24-323-014-0000

ASK ABOUT THIS PROPERTY

Dragos MorarFair Key HomesMore Info
773-603-7716

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Dragos MorarFair Key HomesMore Info
773-603-7716

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.