653 90Th Pl Chicago, IL 60619

Property Details for 653 90Th Pl

Property size

8,000 SF

Property type

Apartment buildings

Description

This meticulously maintained, 10-unit apartment building in Chicago's desirable Burnside neighborhood presents a compelling investment opportunity. Located on a quiet, tree-lined street, the property enjoys proximity to Tuley Park, offering recreational amenities, and Cottage Grove's commercial corridor, providing convenient access to retail and grocery options. The building boasts a desirable unit mix, including three 3-bedroom/1-bathroom and seven 2-bedroom/1-bathroom apartments, all spacious and featuring abundant natural light. Units are equipped with modern kitchens featuring newer cabinetry and appliances, updated bathrooms, and resurfaced hardwood flooring. Significant capital improvements have been recently completed, including a new roof and gutters (2021), an updated and code-compliant porch system, updated plumbing and electrical, and individual in-unit furnaces. The property offers a current cap rate of 9.5% and a cash return exceeding 16%, with potential for further increases through market rent adjustments. This stabilized, cash-flowing asset provides a strong foundation for immediate returns and long-term growth. The building totals 8,000 square feet and is situated at 653 E 90th Pl, Chicago, IL 60619. The asking price is $925,000.