8250 Racine Ave Chicago, IL 60620

This distressed multifamily investment opportunity, located at 8250 S Racine Ave in Chicago, Illinois, presents a significant value-add proposition. The three-story, masonry-constructed building, built in 1931, encompasses 22,500 square feet and features 20 residential units, a mix of one- and two-bedroom apartments. Adding to the property's income potential are five retail spaces boasting excellent street visibility. While some units have recently undergone renovations including new appliances, the majority retain their original condition, offering a substantial opportunity for upgrading and rent increases. The property is situated approximately 20 minutes from downtown Chicago in Cook County, zip code 60620 (41.7435656, -87.6536926). This presents a compelling chance for an investor to implement a strategic renovation program, stabilize occupancy, and maximize rental income by bringing units up to market standards. The property is not subject to a ground lease. This is a rare chance to acquire a distressed asset with considerable upside potential in a desirable location.