38-Unit Courtyard Multifamily
For Sale
$2,800,000
6802 S Prairie Ave, Chicago, IL 60637
38-unit multifamily property with a courtyard layout, featuring redevelopment progress and major building system upgrades underway.
Property Size32,187 SF
Days on Market77
Property Features for 6802 S Prairie Ave
General Information
Standard status
Active
Size
32,187 SF
Property subtype
Multi-Family
Building Details
Building Size
32,187 SF
Year Built
1927
Units
38
Listing Agency:
Essex Realty Group
Listed By:
Joe Kahlhammer
Source:
Commercialcafe
Added: Jun 25
Changed: Aug 26
Last Checked: Sep 8 at 3:42AM
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 Essex Realty Group
Investment Insights
Based on property information with market context.
Located at 6802–6808 S Prairie Ave, this 38-unit multifamily redevelopment opportunity is offered for sale in Chicago’s Greater Grand Crossing neighborhood. The property consists of seventeen (17) two-bedroom units and twenty-one (21) one-bedroom units, arranged around a courtyard layout.
Ownership has already invested significantly in major building system upgrades and unit improvements. Capital work includes new copper water piping throughout, roof repair and reinforcement, HVAC improvements with new ductwork and furnace installation in select units, updated electrical work, and plumbing infrastructure prepared for future tankless hot water installation. The ownership has also completed permitting and secured approved plans and drawings for the entire building.
As part of the redevelopment, twelve (12) two-bedroom units are reported to be approximately 90% complete, with new HVAC, updated electrical, light fixtures, painting, and renovated common areas. Additional units have progressed through framing and infrastructure stages, positioning a new owner to complete remaining improvements and execute a phased lease-up strategy.
Ownership has already invested significantly in major building system upgrades and unit improvements. Capital work includes new copper water piping throughout, roof repair and reinforcement, HVAC improvements with new ductwork and furnace installation in select units, updated electrical work, and plumbing infrastructure prepared for future tankless hot water installation. The ownership has also completed permitting and secured approved plans and drawings for the entire building.
As part of the redevelopment, twelve (12) two-bedroom units are reported to be approximately 90% complete, with new HVAC, updated electrical, light fixtures, painting, and renovated common areas. Additional units have progressed through framing and infrastructure stages, positioning a new owner to complete remaining improvements and execute a phased lease-up strategy.
Key Highlights
- 38‑unit multifamily redevelopment property (17 two‑bedroom units and 21 one‑bedroom units) with a courtyard layout
- Substantial capital already completed, including new copper water piping throughout and roof repair and reinforcement
- HVAC improvements include new ductwork and furnace installation in select units
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
803
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
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Frequently Asked Questions
What type of property is this?
Apartment building - 38-unit multifamily property with a courtyard layout, featuring redevelopment progress and major building system upgrades underway.
Where is this apartment building located?
The property is located at 6802 S Prairie Ave Chicago, IL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 38‑unit multifamily redevelopment property (17 two‑bedroom units and 21 one‑bedroom units) with a courtyard layout; Substantial capital already completed, including new copper water piping throughout and roof repair and reinforcement; HVAC improvements include new ductwork and furnace installation in select units
