235 E. 115th St Chicago, IL 60628

This 9-unit mixed-use building, located at 235 E. 115th St in Chicago's Pullman neighborhood, presents a significant value-add opportunity. The property comprises three 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and five retail spaces, all currently vacant. This allows a new owner complete control over tenant selection and rental rates, maximizing potential income. The building offers a total of 6,424 square feet on a 0.15-acre lot. Individual utilities for each unit simplify management. The property's layout provides flexibility; the retail spaces could be converted into additional residential units, increasing the overall value. Its convenient location, a short walk from Palmer Park and the Kensington/115th Metra Station, and a 25-minute drive from downtown Chicago, enhances its appeal to both residents and businesses. The building requires renovations to the apartments, common areas, and retail spaces, allowing a new owner to substantially increase the property's value through strategic improvements. This presents a unique chance to create a cash-flowing asset by leveraging existing rental rates in the area. The current asking price represents approximately $16,700 per unit.