6820 Perry AveChicago, IL 60621

Property Details for 6820 Perry Ave

Year built

1926

Property type

Apartment buildings

Description

This exceptional 19-unit apartment building presents a compelling investment opportunity in Chicago's Greater Grand Crossing neighborhood. The property, built in 1926, is a four-story walk-up featuring spacious two-bedroom units, each boasting 1,000 square feet of living space with hardwood floors. Significant improvements have been made, including new windows, updated copper plumbing, a high-efficiency boiler, upgraded electrical systems, a new fence, recent tuckpointing, and security cameras. Currently generating a $142,989 NOI with a 9% cap rate, the property offers a pro-forma NOI of $196,637 and a pro-forma cap rate of 13.12%, indicating substantial upside potential through increased rental income. The asking price is $1,499,000, translating to $78,894.74 per unit. The property is zoned R and conveniently located near the 69th Street Red Line station, I-94 Expressway, and multiple CTA bus routes (24, 67, and 167), providing excellent accessibility for residents. This meticulously maintained building offers a rare chance to acquire a strong-performing asset with significant growth potential in a desirable Chicago location. The Cook County APN is 20214070150000. The property's gross rental income is $212,484.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7701

Longitude

-87.6291

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