12-Unit Brick Walk-Up
For Sale
$900,000
8001 South Maryland Avenue, Chicago, IL 60619
Twelve-unit brick walk-up with six one-bed and six two-bed units, recently upgraded with 2025 minisplit systems.
Property Size3,844 SF
Price / SF$234.13
Days on Market118
Property Features for 8001 South Maryland Avenue
General Information
Standard status
Active
Size
3,844 SF
Property subtype
Multi Family 5+ / Multi Family 5+-Other
Additional Details
Multifamily Units
12
Amenities
security camera system
Building Details
Year Built
1924
Construction
brick
Listing Agency:
Essex 312, LLC
(224) 244-3098
Listed By:
Quinn Evans · License #475216885
(224) 244-3098
Source:
Compass
Added: Apr 7
Changed: Jul 23
Last Checked: Jul 24 at 3:15PM
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 Essex 312, LLC
Investment Insights
Based on property information with market context.
This 12-unit brick walk-up apartment building offers a balanced unit mix of six one-bedroom, one-bath apartments and six two-bedroom, one-bath apartments. The property has seen significant recent capital improvements, including brand-new Mitsubishi heating and air conditioning minisplit systems installed in all units in 2025.
Hot water service is supported by two newly installed Rheem Performance 75-gallon natural gas water heaters (150 gallons total), each backed by a six-year warranty. The roof was replaced approximately six years ago. Additional 2025 improvements include newly installed individual electrical panels and a full perimeter security camera system.
The building is presented as a well-maintained, low-maintenance income property positioned for straightforward ownership given the installed mechanical and security updates.
Hot water service is supported by two newly installed Rheem Performance 75-gallon natural gas water heaters (150 gallons total), each backed by a six-year warranty. The roof was replaced approximately six years ago. Additional 2025 improvements include newly installed individual electrical panels and a full perimeter security camera system.
The building is presented as a well-maintained, low-maintenance income property positioned for straightforward ownership given the installed mechanical and security updates.
Key Highlights
- 12‑unit brick walk‑up building in Chicago’s East Chatham neighborhood (built 1924).
- Unit mix: six 1BR/1BA and six 2BR/1BA apartments.
- Brand‑new Mitsubishi heating and air conditioning minisplit systems installed in all units (completed in 2025).
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.0k | $29.40 |
| − Vacancy | −$5.9k | −$1.53 |
| EGI | $107.1k | $27.87 |
| − OpEx | −$48.2k | −$12.54 |
| NOI | $58.9k | $15.33 |
3,844 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$841.8K
$736.6K – $982.1K
NOI $58,925 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.11M
NOI $126,870 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,266
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 - Twelve-unit brick walk-up with six one-bed and six two-bed units, recently upgraded with 2025 minisplit systems.
Where is this apartment building located?
The property is located at 8001 South Maryland Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 12‑unit brick walk‑up building in Chicago’s East Chatham neighborhood (built 1924).; Unit mix: six 1BR/1BA and six 2BR/1BA apartments.; Brand‑new Mitsubishi heating and air conditioning minisplit systems installed in all units (completed in 2025).
