8001 S Perry Avenue
Chicago, IL 60620

Status: Sold
Multi Family 5+
0 beds
0 baths
0 sq.ft
Listing Price: $700,000

About this home

Welcome to your next investment opportunity in the vibrant West Chatham area of Chicago! This impeccably maintained 10-unit building offers a prime chance to expand your portfolio while stepping into a turnkey operation. The current rents are below todays market value. Here's a glimpse into what this property has to offer. Property Description: Nestled in the heart of West Chatham, this 10-unit gem stands tall as a testament to enduring quality and care. Boasting a rich history of over 60 years under the stewardship of its current owners, this property exudes a sense of reliability and longevity. Key Features: Appliances Included: The convenience is built right in, as the property comes furnished with stoves and refrigerators provided by the owner, facilitating a seamless transition for new tenants. Underground Water Sprinkler System: Ensuring lush greenery year-round, the underground water sprinkler system keeps the lawn vibrant and welcoming, enhancing curb appeal. Recent Updates: With a roof installed just 3 years ago and windows replaced approximately 8 to 9 years ago, this building showcases modern functionality while preserving its timeless charm. Strategic Location: Situated near interstate highways and major transportation routes, tenants enjoy easy access to urban amenities and commuter convenience. Security Measures: From the gated front entrance with a wrought iron gate to the security gate at the rear, safety and peace of mind are prioritized at every turn. Community Spaces: The updated back porches provide a serene retreat for residents, while the spacious backyard offers a perfect setting for neighborly gatherings and fostering a sense of community. Investment Potential: This property presents an exceptional opportunity for savvy investors seeking to enhance their portfolio. With a solid foundation of long-term ownership, meticulous upkeep, and desirable amenities, it promises both immediate returns and long-term value appreciation. Don't miss out on the chance to make this meticulously maintained building a cornerstone of your real estate portfolio. Take the next step toward securing your future in the thriving West Chatham market today! Price reduced, motivated seller willing to contribute to the buyer's closing cost with a reasonable offer.

Property details

Property / Lot Details
Approximate Age Older
Land Amenities Curbs and Gutters, Lighting/Exterior, Security Entrance, Sidewalks
CurrentUse Multi-Family
Deconversion N
Lot Dimensions 8358
FrontageType City Street
Number Of Ranges 10
Type Multi-Family Corridor-Interior Entrance
Property Type Multi Family 5+
NumberOfUnitsTotal 10
School / Neighborhood, Utilities, Financing, Location Details
Air Conditioning None
Area Major CHI - Chatham
Zoning Type MULTI
Directions South on Wentworth Ave to 82nd St, go West on 82nd St make a right turn onto West 91st, turn left onto Perry Ave to address.
Electricity Circuit Breakers
Location Corner, In City Limits
Unincorporated No
Interior Features
Basement Description Exterior Access
Heat/Ventilation Central Bldg Heat, Radiators
Number Of Refrigs 10
Stories 2
Washer/Dryer Lsd No
Units
unit 1
Beds Total 1
Baths Total 1
UnitTypeUnitsTotal 6
Full Baths Total 1
Rooms Total 3
Monthly Income 875
Monthly Income Max 875
unit 2
Beds Total 2
Baths Total 1
UnitTypeUnitsTotal 2
Full Baths Total 1
Rooms Total 4
Monthly Income 850
Monthly Income Max 850
unit 3
Beds Total 1
Baths Total 1
UnitTypeUnitsTotal 2
Full Baths Total 1
Rooms Total 4
Monthly Income 825
Monthly Income Max 825
Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Approx Year Built 1929
ConstructionMaterials Brick
Exterior Building Type Brick
Roof Structure Flat
MRD Virtual Tour None

Financials

CapRate 5
ElectricExpense 1372
Electric Expense Source Actual
Known Encumbrances None Known
Expense Year 2023
Total Annual Expense Source Actual
Financing Conventional
Fuel Expense $9,824
Fuel Expense Source Actual
Gross Rental Income $83,839
Gross Rent Multiplier 8.35
Insurance Expense $8,123
Insurance Expense Source Actual
Janitor Expense 4110
Manager Expense Source OP
Net Oper Income $34,229
Other Expense Source Actual
Other Expense $5,900
Operating Expense Includes Accounting, Insurance, Legal, Maintenance, Maintenance Grounds, Maintenance Structure, Manager, Pest Control, Utilities, Water/Sewer, Heat/Cooling, Real Estate Tax, Hot Water
MaintenanceExpense 3691
Scavenger Expense $1,392
Total Monthly Income 6986
OperatingExpense 49610
Investment Profile Commercial Sale
Water Expense $4,117

Tax/Assessments/Liens

PIN 20332140010000
Taxes $11,575
Tax Year 2022
$700,000 Listing Price:
MLS # 12104143
Investment Profile Commercial Sale
Listing Market Time 119 days
Basement
List Date 07/08/2024
Year Built 1929
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