Chicago Chatham Neighborhood Multifamily
For Sale
$630,000
704 E 80th St, Chicago, IL 60619
9 unit building in Chicago's historic Chatham neighborhood
Property Size9,000 SF
Lot Size0.21 Acres
Price / SF$70
Days on Market628
Property Features for 704 E 80th St
General Information
Standard status
Active
Property type
Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
Size
9,000 SF
Elevators
N/A
Lot size
0.21 Acres
Building Details
Buildings
1
Stories
3
Units
9
Listed By:
Noah Birk
(630) 209-3622
Added: Jan 17, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located at 704 E. 80th St in Chicago's Chatham neighborhood, this nine-unit multifamily building is situated one block south of the 79th Street Corridor. The property provides access to public transportation (CTA bus and train), I-94, and downtown Chicago. The building consists of two-bedroom, one-bathroom units, each featuring updated kitchens and bathrooms with hardwood floors. Recent capital improvements include a Weil-McLain boiler, updated copper plumbing, a hot water tank installed in 2021, and code-compliant porches. This investment property offers an opportunity to acquire a stabilized, cash-flowing asset. The current in-place cap rate exceeds 8.6%, with a cash-on-cash return of 11.7%. Further upside potential exists through rental increases to market rates, potentially achieving a cap rate over 13% and a cash-on-cash return of nearly 30%. The building sits on a 0.2066 acre lot and has a total building size of 9,000 square feet. The property is professionally managed.
Key Highlights
- 8.6% In Place Cap Rate
- Nine (9) Spacious 2Bd/1Ba Units
- Separate Living & Dining Rooms
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 60619, IL
63,303
Population
33,547
Households
1.9
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
6.1 sq mi
ZIP Area
10,378
Density / Sq Mi
$43,403
Median Household Income
$35,672
Median Earnings
$1,054
Median Rent
$213,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - 9 unit building in Chicago's historic Chatham neighborhood
Where is this multifamily property located?
The property is located at 704 E 80th St Chicago, IL.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 8.6% In Place Cap Rate; Nine (9) Spacious 2Bd/1Ba Units; Separate Living & Dining Rooms
