Renovated 12-Unit Apartment
For Sale
Contact for pricing
Pending
8031 S Drexel Ave, Chicago, IL 60619
Fully renovated multifamily property with one- and two-bedroom units under a CHA subsidy agreement.
Property SizeContact for details
Days on Market144
Property Features for 8031 S Drexel Ave
General Information
Standard status
Pending
Property subtype
Multifamily
Net Operating Income
$78,067
Financials
Asking Price
$892,000
Cap Rate
8.75%
Gross Rent Multiplier
5.79
Units
Unit Mix
6 x 1BR/1BA, 6 x 2BR/1BA
Multifamily Units
12
Building Details
Year Renovated
2014
Listing Agency:
KW Commercial Chicago - Lincoln Park
Listed By:
Tony Hardy · License #IL 475.139834
(312) 863-8990
Source:
Crexi
Added: Apr 12
Changed: Aug 31
Last Checked: Sep 1 at 8:07PM
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 KW Commercial Chicago - Lincoln Park
Investment Insights
Based on property information with market context.
Located at 8031 S Drexel Ave in Chicago’s Chatham neighborhood, this apartment property contains 12 residential units and underwent a full gut renovation in 2014. The layout includes six one-bedroom, one-bathroom apartments and six two-bedroom, one-bathroom apartments.
All units participate in a Chicago Housing Authority subsidy arrangement. The property is covered by a 30-year CHA agreement with an initial term extending through 2044. Reported financial metrics include an 8.75% cap rate and a 5.79 GRM.
All units participate in a Chicago Housing Authority subsidy arrangement. The property is covered by a 30-year CHA agreement with an initial term extending through 2044. Reported financial metrics include an 8.75% cap rate and a 5.79 GRM.
Key Highlights
- 12‑unit apartment building with six one‑bedroom and six two‑bedroom units
- Full gut renovation completed in 2014
- All rents supported through a Chicago Housing Authority subsidy arrangement
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,151
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
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 - Fully renovated multifamily property with one- and two-bedroom units under a CHA subsidy agreement.
Where is this apartment building located?
The property is located at 8031 S Drexel Ave Chicago, IL.
What are key features of this property?
This property features: 12‑unit apartment building with six one‑bedroom and six two‑bedroom units; Full gut renovation completed in 2014; All rents supported through a Chicago Housing Authority subsidy arrangement
