$875,000
1656 E 83rd Place
Chicago, IL, 60617
1656 E. 83rd Pl is a pristine and meticulously maintained nine (9) unit building located in the Avalon Park neighborhood of South Chicago. The building is situated on a premier tree-lined street and nestled amongst an abundance of single-family residential homes and just blocks away from both the highway an abundance of retail and grocery options along 83rd Street. Furthermore, the building sits just five (5) blocks from Avalon Park, featuring playground, pools, along with an outdoor fieldhouse with basketball courts. 1656 E. 83rd Pl is currently comprised of nine (9) total units. The building is comprised of four (4) 2bd/1ba units and five (5) 1bd/1ba units. All of which, however, are incredibly spacious, feature hardwood flooring throughout, and contain both living and dining rooms. Moreover, all of the units have been renovated with updated kitchens and baths, and all of the units are equipped with individual furnaces, as well. Additional updates to the building include, but not limited to: a newer roof, updated copper plumbing, an updated exterior porch system, along with individual furnaces. 1656 E. 83rd Pl presents an investor with the unique opportunity to acquire a positive cash flowing asset in one Chicago’s premier South Chicago neighborhoods. Additionally, given the majority of the tenants are long term, there’s significant room to increase rents to current market rates. Should a new investor elect to stabilize the rent roll at current rental rates, there’s an opportunity to achieve a near double digit cap rate.
Property Details
Price:
$875,000
MLS #:
MRD12008374
Status:
Active
Beds:
0
Baths:
0
Address:
1656 E 83rd Place
Type:
Commercial
City:
Chicago
Listed Date:
Mar 18, 2024
State:
IL
ZIP:
60617
Year Built:
1928
Schools
Interior
Exterior
Financial
Buyer Agent Compensation
0Net Sale Price
Tax Year
2022
Taxes
$7,202
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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Courtesy of Kiser Group Realty Inc. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Chicago, IL. Detailed information about real estate listings held by brokerage firms other than Compass / The Debra Dobbs Group include the name of the listing broker. Neither the listing company nor Compass / The Debra Dobbs Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Chicago, IL. All rights reserved.
1656 E 83rd Place
Chicago, IL
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