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Listed by Damaris Santiagoof Manage Chicago, Inc.
$ 550,000
Est. payment /mo
Active Under Contract
7831 S COLFAX Avenue Chicago, IL 60649
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12466306
Year Built 1915
Annual Tax Amount $7,999
Tax Year 2023
Lot Dimensions 8371
Property Sub-Type Multi Family 5+
Property Description
Stunning 8-Unit Gem in South Shore! Just a few blocks from beautiful Lake Michigan, this fully occupied 8-unit building offers an incredible opportunity in one of Chicago's most vibrant neighborhoods. Featuring all-new electric, plumbing, and HVAC, plus a newer roof with skylight and two brand-new rear porches. All city violations have been cleared and title is clean.Each unit showcases spacious layouts with hardwood floors, ceramic tile kitchens and baths, and fire-rated unit doors for added safety. The building includes six oversized 3-bed/1-bath units with formal dining and living rooms, one large 2-bed/1-bath garden unit, and one 1-bed/1-bath garden unit-all generously sized. The property is fully occupied with clean, responsible tenants, and all tenants pay their own utilities. Current rents are well below market value, creating a prime value-add opportunity for investors. Whether you're seeking strong cash flow now or long-term upside through rent growth, this South Shore gem delivers both. Easy to Show - Show with Confidence!
Location
State IL
County Cook
Zoning MULTI
Interior
Fireplace N
Exterior
View Y/N true
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