9020 Langley Ave, Chicago, IL 60619

This exceptional 24-unit apartment building, boasting 44 beds, presents a compelling investment opportunity in Chicago's desirable Chatham neighborhood. Situated on an 8,895 square foot lot, zoned RT-4, the property features a well-maintained structure in good condition. The building offers a blend of private and communal spaces, including a fully equipped shared kitchen, a versatile meeting room, and five offices on the ground floor. Shared bathrooms are conveniently located on each floor for resident ease. Three individual HVAC units ensure climate control, while a laundry room with two washers and two dryers adds to resident convenience. The asking price is $600,000. Note that an affordable housing retention agreement with the Federal Home Loan Bank of Chicago (FHLBC) is in place until May 1, 2028, requiring the property to operate an affordable housing program. Any potential buyer must commit to this program and receive FHLBC approval. Details of this agreement are available upon request. An existing loan with the Illinois Facilities Fund (IFF) will be paid off at closing. This property offers a strong return on investment in a sought-after location.