$2,497,000
951 E 86th Street Chicago, IL 60619
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$2,497,000
Est. payment /mo
12,744 SqFt
Active
951 E 86th Street Chicago, IL 60619
UPDATED:
10/19/2024 05:06 AM
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 12,744 sqft
Price per Sqft $195
MLS Listing ID 12096532
Year Built 1965
Annual Tax Amount $10,330
Tax Year 2022
Lot Size 0.350 Acres
Lot Dimensions TRIANGULAR 76.17FT FRONTAGE X 397.9 ALLEY X 404.8 REAR
Property Description
Exceptional opportunity 15 unit, 8 garage, fully occupied (one unit under renov.) | $201k NOI, 8% CAP | Stable tenants, with multi-year leases remaining (18.1 mo avg)--some to 2028, provide value-add NPV boost | $24k monthly cash flow from eight 2bed, seven 1bed, eight single garages, coin laundry | 7 space value-add fee parking | 5.3 yr avg tenant-tenure, desirable units, EZ transportation, apartment wait list | Inflation hedge with annual subsidized rent increases | 20yr same owner | East Chatham, 72 "Good" mobility, quiet, tree-lined, adjacent Metra (87th St/Woodruff), 1 mi to I-94, 1 mi to CTA Red Line | Zero-deferred maintenance: high-efficiency boiler (2024), garage roof (2024), security cameras/system (2023), tuckpointing (2021), coin laundry (2021), garage doors (2021), crawlspace drain tile (2021), 50yr HD roof (2018)--warranty through 2028, low-E aluminum windows, R-40 attic insulation
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling Wall Sleeve
Fireplace N
Exterior
Utilities Available Water-Municipal, Cable Available
View Y/N true
Roof Type Composition
Building
Foundation Block, Concrete Perimeter
Structure Type Brick,Concrete
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by James Pappas • James Pappas
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