6835 South Merrill AvenueChicago, IL 60649Sale Price: $600,000

Fantastic Investment Opportunity with Tremendous Upside Potential! Presenting a unique investment package comprising six spacious condos encompassing the entire property at 6835-37 S Merrill. The condos feature generous layouts with 3 bedrooms and 2 bathrooms, each spanning over 2,000 square feet. Additionally, the property includes a 2-bedroom, 1-bath unit and a 1-bedroom, 1-bath unit in the English garden level. This offering also boasts a well-equipped laundry room, ample storage space, and three 2-car garages at the rear, providing parking for six cars. This property underwent an extensive gut remodeling in 2010, ensuring modern amenities and functionality. Recent updates include a brand-new roof in 2022 and a hot water heater installed in 2023. With these upgrades, utility costs have been kept low. The property currently houses tenants with month-to-month leases, offering the opportunity for rental rate increases in line with market rates. Enjoy the refreshing lake breeze just a few blocks away. Your tenants will relish the proximity to the vibrant Chicago Cultural Club, the future Obama Library just a stone's throw away, and the convenience of the nearby harbor and golf course. This is an excellent investment opportunity with a potential 15% cap rate, or a solid 10.5% return as it stands now. It's the perfect armchair investment for the savvy real estate investor. Don't miss out on this exceptional deal!