8016 Yates Blvd Chicago, IL 60617

Property Details for 8016 Yates Blvd

Year built

1960

Property size

4,416 SF

Property type

Commercial real estate

APN

20362150380000

Description

This exceptional 11-unit apartment building, located at 8016 S Yates Blvd in Chicago, IL, presents a compelling investment opportunity. The property boasts a desirable Class A designation and features a total of 4,416 square feet situated on a 4,416 square foot lot. Built in 1960 and extensively renovated in 2020, this three-story building offers a mix of five one-bedroom and six two-bedroom units, currently enjoying 100% occupancy. Each unit is beautifully rehabbed and features updated in-unit service panels and wall-unit air conditioning. Tenants are responsible for cooking gas, heat, and electricity. The building includes eight assigned parking spaces in the rear, with additional street parking available. Further enhancing its appeal, the property includes a convenient on-site coin-operated laundry facility. The building's strong financial performance is reflected in its $1,100,000 asking price, a $100,000 per unit cost, and a robust net operating income (NOI) of $81,900, resulting in an attractive 7.45% capitalization rate. The property is zoned RT-4 and is conveniently located near Lake Shore Drive, offering easy access to expressways and public transportation. This fully occupied, well-maintained building represents a solid investment opportunity with significant potential for future returns. The property's recent renovations, including a new roof and gutters, as well as updated electrical systems, ensure long-term value and minimize maintenance concerns. The strong tenant base and high occupancy rate further solidify this property's financial stability. The Cook County APN is 20362150380000. The property is owned as a corporation.