6457 South Cottage Grove AvenueChicago, IL 60637Price: $925,000

  • Price: $925,000
  • 178 Days on Market
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Federal 30-year interest rate: 6.58% last updated on Nov 23, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 5,500Square Feet
  • 1904Year Built

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MoHall Commercial presents this Value Add 16-Unit investment opportunity for sale in the Woodlawn Community, operating at a current 6.62% Cap Rate. Located near the University of Chicago campus, the CTA Green Line and the Obama Library construction site, this building has an incredible upside for appreciation. This building features 8 commercial units and 8 residential units. The commercial units feature long term tenants, with thriving businesses in the community. The unit mix includes (2) 3 bedroom units with 1.5 baths and (6) 2 bedroom units with 1 bath. Based on market demand, 3 bedrooms in the area are renting for $1,800 a month and 2 bedrooms $1,400 a month. With improved leasing, real estate property tax appeals and updates to the building an investor could achieve a Cap Rate of 17.2%. The Woodlawn community has seen many recent developments, which has spurred the need and demand for housing.

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Listed by Moses Hall of MoHall Commerical & Urban Development

Based on information submitted to MRED  as of November 26, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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