For Sale
$400,000

400 109Th StChicago, IL 60628

High-Yield Pullman Apartment Building

Overview

Added:
Dec 11, 2024
Days on market:
116
Exceptional investment opportunity awaits with this six-unit apartment building located at 400 E 109th St, Chicago, IL 60628. This three-story, 16,125 square foot building, constructed in 1962, offers a compelling 12.32% cap rate and a strong net operating income (NOI) of $49,272. The property features five two-bedroom, one-bathroom units and one one-bedroom, one-bathroom garden apartment, all boasting hardwood floors, spacious layouts, and large eat-in kitchens. Recent upgrades include new copper plumbing, updated electrical systems, and extensive masonry work, minimizing future maintenance costs. Residents enjoy convenient on-site laundry facilities. Five parking spaces are available at the rear of the building. Situated on a quiet, tree-lined street near Gwendolyn Brooks College Preparatory and Palmer Park, this property benefits from a highly desirable location. The building is zoned RT-4 and sits on land held under a ground lease. The asking price is $400,000, representing a price per unit of $66,666.67 and a price per square foot of $24.81. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a prime Chicago neighborhood. The property's strong cash flow and potential for appreciation make it an ideal addition to any investor's portfolio. The Cook County Assessor's Property Identification Number (APN) is 25154070430000.

Highlights

  • Six-unit apartment building in desirable Chicago location (400 E 109th St, 60628).
  • 16,125 sq ft, three-story building built in 1962, offering a 12.32% cap rate and $49,272 NOI.
  • Five 2-bed/1-bath units and one 1-bed/1-bath garden unit, all with hardwood floors, eat-in kitchens.
  • Recent upgrades include new copper plumbing, electrical systems, and masonry work. On-site laundry and five parking spaces.
  • Zoned RT-4, ground lease, Cook County APN 25154070430000. Asking price: $400,000 ($66,667/unit, $24.81/sq ft).

Property Details for 400 109Th St

Property type
Apartment buildings
Square Feet
16,125 SF
Class
C
Year Built
1962
Stories
3
Units
6

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.696591757905
Longitude
-87.613499124249
400 109Th St, Chicago, Illinois

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400 109Th St
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