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704 E 80th St Chicago, IL 60619

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For Sale
$630,000

9 unit building in Chicago's historic Chatham neighborhood

Property size:
9,000 SF
Lot size:
0.21 Acres
Added:
Jan 17, 2025
Days on Market:
441
Last Refresh:
Mar 16 at 9:06 am

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

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Listing Contact
Noah Birk

Listing agent Noah

Listing office

Listing date Jan 17, 2025


Overview

Chicago Chatham Neighborhood Multifamily Building

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.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Residential income homes

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.6051
Latitude
41.744

FAQs

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
More about this property
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