Chatham Six-Unit Multifamily Investment Property

735 East 88th Street, Chicago, IL 60619

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For Sale

$497,500

Six-unit multifamily property in Chatham neighborhood with value-add potential.

Type:Multi Family 5+ / Corridor-Exterior Entrance

HighLights

Six‑unit multi‑family investment property in Chicago's Chatham neighborhood.
Potential for a 10‑12% annual capitalization rate upon stabilization.
Opportunity to re‑lease to local subsidies offering $1300-$1400 for 1‑bed units with heat and hot water included.
Updated rear porch and newer windows.
Central boiler heat (~8 years old).
Three‑car garage.

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Contact an agent

Thomas Hart

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For Sale

$497,500

Six-unit multifamily property in Chatham neighborhood with value-add potential.

Type:Multi Family 5+ / Corridor-Exterior Entrance

Added:: Jun 11, 2025
Days on Market:: 393
Last Refresh:: Jul 5 at 4:48 am

Property Features for 735 East 88th Street

General Information

Standard status: Active
Property subtype: Multi Family 5+ / Corridor-Exterior Entrance

Building Details

Year Built: 1897

We can help!

Contact an agent

Thomas Hart

Listing office 33 Realty

Listing date Jun 11, 2025

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HighLights

Six‑unit multi‑family investment property in Chicago's Chatham neighborhood.
Potential for a 10‑12% annual capitalization rate upon stabilization.
Opportunity to re‑lease to local subsidies offering $1300-$1400 for 1‑bed units with heat and hot water included.
Updated rear porch and newer windows.
Central boiler heat (~8 years old).
Three‑car garage.

Overview

Located in the Chatham neighborhood of Chicago, 735 E 88th Street is a six-unit multifamily investment property. The building comprises six apartments, each featuring four rooms with one bedroom and one bathroom. A three-car garage is also included. The property benefits from updated electric, an updated rear porch, and newer windows. Central boiler heat, approximately 8 years old, provides heat, and common hot water is available. Hardwood floors are present throughout the building. Multiple units feature updated kitchens and bathrooms. The property is situated in a low-density pocket of south Chatham. This property offers an opportunity for an investor to re-lease to local subsidies, potentially achieving a 10-12 annual capitalization rate upon stabilization.

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Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.605763
Latitude: 41.7345554

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For sale
Apartment buildings
IL
Chicago
60619
735 East 88th Street

What type of property is this?

Apartment building - Six-unit multifamily property in Chatham neighborhood with value-add potential.

Where is this apartment building located?

The property is located at 735 East 88th Street Chicago, IL.

What is the asking price?

The asking price for this property is $497,500.

What are key features of this property?

This property features: Six‑unit multi‑family investment property in Chicago's Chatham neighborhood.; Potential for a 10‑12% annual capitalization rate upon stabilization.; Opportunity to re‑lease to local subsidies offering $1300-$1400 for 1‑bed units with heat and hot water included.