Courtyard Apartment
For Sale
Contact for pricing
Pending
1645 E 85th Place, Chicago, IL 60617
Twenty 1Bd/1Ba apartment units in a courtyard layout, with recent improvements including a modern boiler and code-compliant porches.
Property Size16,000 SF
Days on Market283
Property Features for 1645 E 85th Place
General Information
Standard status
Pending
Size
16,000 SF
Property subtype
Multifamily
Financials
Cap Rate
9.23%
Business Included
Yes
Additional Details
Highway Access
Yes
Multifamily Units
20
Listing Agency:
Kiser Group
(773) 293-5032
Listed By:
Noah Birk · License #IL 475.125864
Source:
Crexi
Added: Oct 21, 2025
Changed: Jul 20
Last Checked: Jul 24 at 8:47AM
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 Kiser Group
Investment Insights
Based on property information with market context.
1643 E. 85th Place is a 20-unit courtyard apartment building offering all 1-bedroom, 1-bath units. The units are described as having spacious layouts. Recent building improvements include a modern boiler and code-compliant porches, along with extensive masonry and tuckpointing work.
Located on Chicago’s South Side in the Calumet Heights neighborhood, the property is described as having connectivity to multiple transit options and quick access to major roadways. Local amenities include nearby grocery stores, schools, and abundant park space.
This offering is presented as an investor opportunity to acquire an income-producing multifamily property with an in-place cap rate of 9.23% and cash return of 14.17%, with stated potential for improved performance at a 11.33% cap rate and a proforma cash return of 22.58%.
Located on Chicago’s South Side in the Calumet Heights neighborhood, the property is described as having connectivity to multiple transit options and quick access to major roadways. Local amenities include nearby grocery stores, schools, and abundant park space.
This offering is presented as an investor opportunity to acquire an income-producing multifamily property with an in-place cap rate of 9.23% and cash return of 14.17%, with stated potential for improved performance at a 11.33% cap rate and a proforma cash return of 22.58%.
Key Highlights
- 20‑unit courtyard apartment building in Chicago’s Calumet Heights neighborhood
- Unit mix: twenty 1BD/1BA apartments with spacious layouts
- Recent improvements include a modern boiler and code‑compliant porches
Property Analytics
Current Use
Lease Details
20
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 60617, IL
77,270
Population
35,031
Households
2.2
Avg Household Size
39
Median Age
20%
College-Educated
82%
High-School Grad
13.7 sq mi
ZIP Area
5,640
Density / Sq Mi
$51,237
Median Household Income
$36,926
Median Earnings
$1,010
Median Rent
$168,200
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 - Twenty 1Bd/1Ba apartment units in a courtyard layout, with recent improvements including a modern boiler and code-compliant porches.
Where is this apartment building located?
The property is located at 1645 E 85th Place Chicago, IL.
What are key features of this property?
This property features: 20‑unit courtyard apartment building in Chicago’s Calumet Heights neighborhood; Unit mix: twenty 1BD/1BA apartments with spacious layouts; Recent improvements include a modern boiler and code‑compliant porches
