South Chicago 8-Unit
2908-12 E. 91st Street,
Chicago, IL 60617
12.3% Cap Rate Deal in South Chicago
$520,000
Offering Price
8
Number of Units
$65,000
Price Per Unit
5,855
Building SF
14.34%
Cap Rate
6,750
Land SF
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$520,000
Offering Price
8
Number of Units
$65,000
Price Per Unit
5,855
Building SF
14.34%
Cap Rate
6,750
Land SF
Investment Summary
Atlas Realty is pleased to present, for sale, 2908-12 E. 91st Street. The Subject building is a three-story walk-up residential apartment building of masonry construction with a flat roof, constructed in 1895. Containing a total of eight units, the 5,855-SF building sits on a 6,750-SF lot. The Property contains a unique unit mix, featuring four 4bed/2bath units, three 2bed/1bath units, and one 5bed/1bath unit. All units have been renovated over the years and have varied finishes. The exterior envelope is of tan brick with white concrete/stone trim. The building has two, rear enclosed wooden porch systems (one on east side and one on west side). There is a two-car garage as well as two surface parking spaces in the property's rear. The building contains two, separate, front central stairwells. The basement houses the building’s boiler system, its two hot water tanks and coin-operated laundry facilities (2 washers/two dryers and slop sink). There is one vacant, garden unit.
Location Summary
The South Chicago community is one of Chicago’s 16 lakefront neighborhoods near the southern rim of Lake Michigan 11 miles south of downtown. A working-class neighborhood, it is bordered by East 79th Street on the north, South Chicago Avenue (the Chicago Skyway) on the southwest, a small stretch of East 95th Street on the south. Much of the business and shopping in South Chicago is done along Commercial Avenue. Several privately owned businesses such as clothing stores, furniture and retail, and beauty salons, can be found along Commercial Avenue. Restaurants from Nigerian to Italian cuisine are found in South Chicago. Despite the slow economy, more “Mom and Pop” stores flourish throughout South Chicago’s residential areas than in any other neighborhood. East 83rd Street, East 87th Street and south along Commercial Avenue to East 95th Street have attracted corporations, businesses and new banks into the community. Commercial Avenue is also home to many non-profit organizations including Healthy South Chicago, the Alianza Leadership Institute, Centro Comunitario Juan Diego, El Valor, Centro de Trabajadores Unidos, and SEDCOM. Just to the north of South Chicago, lies the South Shore community. South Chicago residents can take advantage of the many attractions found just to the north, including the South Shore Cultural Center. The South Shore Cultural Center features an impressive array of galleries, dance studios and public beaches. A longstanding symbol of community pride, it was the sight of President Barack Obama and First Lady Michelle’s wedding reception and was added to the National Register of Historic Places in 1975. The building also boasts a nine-hole golf course and the Paul Roberson Theatre, a 600-seat space that hosts the South Shore Opera Company.
Atlas Realty is pleased to present, for sale, 2908-12 E. 91st Street. The Subject building is a three-story walk-up residential apartment building of masonry construction with a flat roof, constructed in 1895. Containing a total of eight units, the 5,855-SF building sits on a 6,750-SF lot. The Property contains a unique unit mix, featuring four 4bed/2bath units, three 2bed/1bath units, and one 5bed/1bath unit. All units have been renovated over the years and have varied finishes. The exterior envelope is of tan brick with white concrete/stone trim. The building has two, rear enclosed wooden porch systems (one on east side and one on west side). There is a two-car garage as well as two surface parking spaces in the property's rear. The building contains two, separate, front central stairwells. The basement houses the building’s boiler system, its two hot water tanks and coin-operated laundry facilities (2 washers/two dryers and slop sink). There is one vacant, garden unit.
FOR MORE DETAILS CONTACT
Michael Tolliver
Broker
(312) 617-8095
michael@atlasmanagementcorp.com
Edward N. Bluemel II
Senior Associate
(630) 709-3581
edward@atlasmanagementcorp.com
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