Location Summary

• The Subject property is located in Marquette Park, part of the large Chicago Lawen neighborhood, on Chicago's south side. Bordered by 59th Street to the north, Bell Avenue to the east, 75th Street to the south, and Central Park Avenue to the west, Chicago Lawn is also home to Nabisco's Chicago plant, the largest bakery in the world. Marquette Park is a large south side Chicago neighborhood with all the services and advantages of a mini-city. It is centered around an extraordinary 300-acre park of the same name. The park was designed by famed landscape architects the Olmsted Brothers in 1905, and the original plans "called for a golf course on two islands surrounded by naturalistic lagoons, indoor and outdoor gymnasiums, swimming and wading pools, a children's playground, formal gardens, and a concert grove." The golf course opened in 1913, and by 1917, the park included playing fields, a children's playground, tennis courts, propagating houses for the nursery, and a large, classically-designed golf shelter. Now, about a century after it was created, the park still is one of the jewels of the Chicago Park District. Residences in Marquette Park are mainly brick and other single-family homes. As is customary in the southern reaches of Chicago, the lots are tightly-packed with rear garages and enough backyard for barbecuing and other outdoor activities. Solid restaurant and retail business exists along the neighborhood's main corridors (63rd Street; 59th Street; Marquette Road).
• The Subject property is masonry, corner, 12-unit walk-up building located in the Marquette Park neighborhood on Chicago's southwest side. There are two small, attached garage structures which are rented to tenants for additional income. There is a rear courtyard area which contains a combination of grass and sidewalk, and three iron porch systems. There are there basement areas which are accessed via the rear courtyard. The basement areas house the hot water heaters, furnace units for the first floor units, gas and electric meters, as well as storage. The unit mix is as follows: 6 Studio Units (1 bathroom) 6 One bedroom/One bathroom Units Each unit has an individual gas, forced air furnace heating system. Each unit has an individual hot water tank (40-gallon). The property was acquired by ownership as part of a 6-building portfolio in December-2018.