8-Unit Apartment
For Sale
Contact for pricing
1019 E 62nd St, Chicago, IL 60637
8-unit multifamily property with updated HVAC and select interior renovations, plus basement coin laundry and three outdoor parking spaces.
Property SizeContact for details
Days on Market122
Property Features for 1019 E 62nd St
General Information
Standard status
Active
Total Parking Spaces
3
Property subtype
Multifamily
Additional Details
Multifamily Units
8
Listing Agency:
Root Realty Inc
Listed By:
Kevin Itima · License #IL 891874
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 21 at 6:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Root Realty Inc
Investment Insights
Based on property information with market context.
This for-sale 8-unit apartment building offers a unit mix of five 3-bedroom/1-bath homes, one 2-bedroom/1-bath unit, and two basement 1-bedroom/1-bath units. Major capital expenditure and cosmetic work has been completed in six of the eight units, including HVAC and hot water heater replacements, flooring updates, kitchen and bath updates, and a rebuilt handicap ramp. The building also includes coin laundry in the basement and uncovered outdoor parking with three spaces.
The property is described as being in the heart of Woodlawn, close to the University of Chicago and adjacent to the Presidential Square townhome development, with the Obama Center noted nearby.
A regulatory agreement with the IDHA is in place until March 2039, and it includes non-waivable restrictions on tenant incomes and rental rates set at 80% of AMI as determined annually by HUD. The asset has passed IHDA 2022 financial audit and desk review for management and fair housing compliance, with HUD 2022 approved rents and utilities provided for the unit types.
The property is described as being in the heart of Woodlawn, close to the University of Chicago and adjacent to the Presidential Square townhome development, with the Obama Center noted nearby.
A regulatory agreement with the IDHA is in place until March 2039, and it includes non-waivable restrictions on tenant incomes and rental rates set at 80% of AMI as determined annually by HUD. The asset has passed IHDA 2022 financial audit and desk review for management and fair housing compliance, with HUD 2022 approved rents and utilities provided for the unit types.
Key Highlights
- 8‑unit multifamily building in Woodlawn with major CAPEX and cosmetic work completed in 6 of the 8 units.
- Updates include HVAC and hot water heater replacement, flooring, kitchen and bath updates, and a rebuilt handicap ramp.
- Unit mix: five 3 bed/1 bath, one 2 bed/1 bath, and two basement 1 bed/1 bath units.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 60637, IL
53,555
Population
26,717
Households
2
Avg Household Size
31
Median Age
37%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
11,901
Density / Sq Mi
$42,080
Median Household Income
$33,227
Median Earnings
$1,170
Median Rent
$243,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 8-unit multifamily property with updated HVAC and select interior renovations, plus basement coin laundry and three outdoor parking spaces.
Where is this apartment building located?
The property is located at 1019 E 62nd St Chicago, IL.
What are key features of this property?
This property features: 8‑unit multifamily building in Woodlawn with major CAPEX and cosmetic work completed in 6 of the 8 units.; Updates include HVAC and hot water heater replacement, flooring, kitchen and bath updates, and a rebuilt handicap ramp.; Unit mix: five 3 bed/1 bath, one 2 bed/1 bath, and two basement 1 bed/1 bath units.
