7609-11 S Essex Ave, Chicago, IL 60649
A six-unit apartment building featuring large-format three-bedroom units with five occupied and one currently vacant.
- Added:
- Jun 10, 2026
- Days on Market:
- 21
- Last Refresh:
- Jun 20 at 8:22 am
Property Features for 7609-11 S Essex Ave
General Information
- Standard status
- Active
- Size
- 7,440 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1924
Listing office Marblestone Property Group LLC
Listing date Jun 10, 2026
Source Crexi
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 Marblestone Property Group LLC
HighLights
- 6‑unit multifamily building built in 1924, featuring all large‑format 3‑bedroom units
- 5 of 6 units currently occupied; 1 unit (2S) is vacant for immediate income potential
- In‑place rent roll of $6,725/month ($80,700 annualized) from the current occupied units
- Average in‑place rents of $1,345/month versus recent comparable market activity of $1,750–$2,000/month for 3BD/2BA units
- Tenants pay their own electric and heat, helping keep owner operating expenses lean
- Vacant unit vacancy offers estimated $21,000+ annual upside at market rents
Overview
The property is positioned in Chicago’s South Shore / Grand Crossing corridor. The remarks indicate tenants pay their own electric and heat, which helps keep owner operating expenses lean. The vacant unit provides an immediate opportunity to restore rental income at lease-up.
For investors or owner-operators seeking a straightforward multifamily asset, this configuration concentrates demand around three-bedroom layouts while offering a clear path to stabilize occupancy. With five units already in place, an acquiring party can focus on preparing the currently vacant unit for re-rental and aligning rents to the directly comparable market activity cited in the offering materials. Unit economics and operational considerations are also simplified by the tenant-paid utilities model described for the building.
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.5635874
- Latitude
- 41.7568379
