67th And Halsted Chicago IlChicago, IL 60621

Property Details for 67th And Halsted Chicago Il

Year built

1928

Property size (Sq ft)

13,290 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This fully renovated 13-unit apartment building, located at the corner of 67th and Halsted in Chicago, IL (zip code 60621), presents a compelling investment opportunity. The property, built in 1928 and extensively renovated in 2024, boasts 13,290 square feet across three stories. Each of the thirteen units is a two-bedroom, one-bathroom apartment with a unique layout. The building features a ground-floor mixed-use space suitable for office or storage. Recent renovations include a new roof, water heaters, air conditioning units, and furnaces. All units are individually metered for efficient utility management. Currently vacant, this property offers the potential for immediate lease-up at market rates. The asking price is $1,325,000, representing a price per unit of $95,000. The property's current NOI is $125,000, yielding a 9.5% cap rate. Pro forma NOI is projected at $145,000, resulting in a 10.9% pro forma cap rate. This fee-simple ownership opportunity provides a strong cash-on-cash return estimated at 12-13%, making it an attractive investment in a desirable Chicago neighborhood. The property is offered in a vacant condition, allowing for immediate value-add potential through strategic leasing.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7723

Longitude

-87.6482

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