9001 S Ashland Ave - Apartments FOR SALE


Chicago, IL 60620- Brainerd
$1,500,000 USD
773-293-5056
9001 S Ashland Ave, Chicago, IL for Sale
$1,500,000 USD
Apartments - FOR SALE
1/7
null | 9.05% Cap Rate

9001 S Ashland Ave
Chicago, IL 60620
Brainerd


HIGHLIGHTS

  • Nineteen (19) Residential & Six (6) Retail Units
  • Below Market Rents
  • New Boiler (2024) W/ R&D Control
  • New Porch (2023)
  • Updated Electrical (800 AMPs)
  • Distance to Metra: 0.2 Miles

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase the sale of 9001 S. Ashland Ave, a twenty-five (25) unit building in Chicago’s Brainerd Neighborhood. The subject property is conveniently situated directly east of the Dan Ryan Woods, providing tenants with easy access to walk to and enjoy the city park. Additionally, the property sits three blocks east of the 91st St – Beverly Hills Train Station, providing quick and easy access to Chicago’s downtown. 9001 S. Ashland Ave has a unit mix consisting of four (4) studios, fourteen (14) 1Bd/1Ba, one (1) 2Bd/2Ba & six (6) retail units. The interior units offer favorable layouts and hardwood flooring throughout. The retail spaces vary in size, with majority having tenants for periods over two (2) years. Recent capex updates include but are not limited to: March 2024 boiler installation (with R&D control system), newer windows, newer porch (2023) & updated 800 AMP electrical service. 9001 S. Ashland Ave presents an investor with the unique opportunity to acquire an asset which has tremendous upside. By renovating units and raising rents to levels being achieved in the market, a potential owner would be able to assume a cap rate over 13% and cash return almost 30%.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$74 USD /SF

# OF UNITS

25

PRICE/UNIT

$60,000

CAP RATE

9.05%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,214 SF

ZONING

C2-2

APN/PARCEL ID

25-05-124-001-0000

ASK ABOUT THIS PROPERTY

John GeorgeKiser GroupMore Info
773-293-5056

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John GeorgeKiser GroupMore Info
773-293-5056

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