400 E 109th Street Chicago IL 60628 MLS #MRD11945150

400 E. 109th is a six (6) unit walk-up located in Chicago’s historic Pullman neighborhood. The building sits on the corner of a quiet, tree-lined street across from the premier Gwendolyn Brooks College Preparatory campus and two (2) blocks north of Palmer Park, which features sporting facilities, a fitness center, and an outdoor swimming pool. 400 E. 109th St has an incredibly desirable unit mix comprised of five (5) 2bd/1ba units and one (1) 1b/1ba garden apartment. Each unit features hardwood floors and spacious floorplans with an over-sized great room and a large eat-in kitchen. Recent improvements to the building include, but are not limited to: copper plumbing, updated electric, and with an abundance of masonry and tuckpointing. The building also features onsite laundry facilities as well as five (5) parking spaces in the rear. 400 E. 109th St. presents an investor with a unique opportunity to acquire an incredibly strong, positive cash flowing asset with an in place cap rate of over 9%. Furthermore, solely through light apartment upgrades, and bringing the rents to levels already being achieved, a new owner has the ability to achieve a cap rate of over 10% and a cash return over 18.37%.