7304 S Union Ave Chicago, IL 60621

Located on Chicago’s South Side, this 6-unit multifamily property presents an investment opportunity. Constructed in 1914, the building contains a unit mix of three one-bedroom/one-bathroom units averaging approximately 1,075 square feet and three two-bedroom/one-bathroom units averaging approximately 1,305 square feet, totaling roughly 7,140 rentable square feet on a 0.11-acre lot. The large floor plans support competitive rent growth relative to the surrounding market. The property generates $80,400 in gross scheduled rent with three of six units occupied, producing an effective gross income of $76,380. At current operations, the property delivers a Net Operating Income (NOI) of $44,032. Upon stabilizing occupancy and achieving market rents, projected Year 1 gross scheduled rent increases to $102,508, with NOI growing to approximately $62,246. Operating expenses are managed at approximately 42.4% of effective gross income in-place, improving to 36.1% at stabilization. The investment is underwritten with conservative vacancy, realistic market rents, and no assumed capital expenditures. Priced at approximately $71,667 per unit and $60 per square foot, this property offers yield, upside through lease-up, and long-term appreciation potential. This offering represents an opportunity for investors seeking cash-on-cash returns, operational upside, and a scalable multifamily asset in a supply-constrained urban submarket.