8248 S Houston Avenue

Chicago, IL 60617

$1, 200 BUYER CLOSING CREDIT! Very nice 3 flat on a great block! HOWEVER, it needs WORK! The photos are VERY accurate and represent existing conditions. The building has been stripped and will require all new MEPs, half a new slab in the basement and generally medium-level cosmetic work throughout in the upstairs units. You will also need new front and rear porch systems. The great news? There is a LOT of upside potential for the stabilized asset, which is why you will want to buy this bad boy today! Currently configured as a 2/1 garden unit, a 1/1.1 first floor simplex and a 3/1 duplex up. The HVAC and hot water heater are +/- 4 years old. Located directly across the street from an elementary school park, 1/2 block to Metra's S. Shore Line, close to shopping and restaurants along Exchange & Commercial Avenues and just a 15 minute ride to Millennium Park's Bean! Sale price includes architectural plans for creating a 3/2 duplex in the 3rd floor. Architect can amend and change plans according to the buyer's preferences. Alternatively, the building can also be de-converted into large 5/3 SFH with $3, 500-$4, 000 per month cash flow potential! Comps in the immediate area can exceed the high $300s. See Broker Private Remarks for a link to stabilized comps. PLEASE NOTE: Architect's proposed renovation plans under the Additional Information Tab.