Multifamily Building Near City
For Sale
Contact for pricing
1248 W 83rd Street, Chicago, IL 60620
15-unit multifamily building with immediate cash flow potential.
Property Size13,087 SF
Price / SF$91.69
Days on Market97
Property Features for 1248 W 83rd Street
General Information
Standard status
Active
Size
13,087 SF
Class
C
Property subtype
Multifamily
Zoning
RS-3
Occupancy
47%
Investment Type
Value Add
Building Details
Year Built
1929
Buildings
1
Units
15
Tenancy
Multi
Listing Agency:
Real People Realty
(708) 634-0103
Listed By:
Chelsea James · License #475190629
Source:
Crexi
Added: May 19
Changed: Aug 8
Last Checked: Aug 22 at 5:41PM
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 Real People Realty
Investment Insights
Based on property information with market context.
This 15-unit multifamily building is located near recent city-backed developments. The property features thirteen two-bedroom units and two one-bedroom units. The property offers a high pro-forma cap rate, providing immediate cash flow. There is potential to add on-site laundry and tenant storage.
Key Highlights
- High pro‑forma cap rate provides immediate cash flow.
- 15‑unit multifamily building suitable for short or long‑term investment.
- Thirteen 2‑bedroom units and two 1‑bedroom units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,098
Businesses Nearby
Explore this area
Business Placement
Demographics for 60620, IL
66,514
Population
30,008
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
7.0 sq mi
ZIP Area
9,502
Density / Sq Mi
$48,805
Median Household Income
$36,285
Median Earnings
$1,093
Median Rent
$187,900
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 - 15-unit multifamily building with immediate cash flow potential.
Where is this apartment building located?
The property is located at 1248 W 83rd Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High pro‑forma cap rate provides immediate cash flow.; 15‑unit multifamily building suitable for short or long‑term investment.; Thirteen 2‑bedroom units and two 1‑bedroom units.
