124 81St St Chicago, IL 60620

Property Details for 124 81St St

Year built

1930

Property size

5,048 SF

Property type

Commercial real estate

APN

20332130310000

Description

This well-maintained six-unit multifamily property located at 124 W 81st St, Chicago, IL 60620, presents a compelling investment opportunity. Boasting a substantial 5,048 square feet, the two-story brick building features six units, all currently occupied with long-term leases, ensuring consistent cash flow. The property includes a full basement and a detached four-car garage, adding significant value. Recent upgrades include a new tuck point, new concrete at the rear of the building, newer glass block basement windows, freshly painted entry doors and trim, and three newer kitchens. The building is equipped with six stoves, six refrigerators, and coin-operated washers and dryers (two of each). Mechanical systems are in good condition, with a four-year-old water heater and a nine-year-old furnace. The property is situated on a quiet residential street, conveniently located near major highways and a train station. The property's strong financials are highlighted by a 9.50% cap rate and a net operating income (NOI) of $50,517, with an asking price of $529,900. The property is zoned R3. The Cook County Assessor's Parcel Number (APN) is 20332130310000. Serious inquiries only; 48-hour notice required.