153 E. 110th St Chicago, IL 60628

Property Details for 153 E. 110th St

Year built

1959

Property type

Residential income homes

Property subtype

Residential income properties

Description

This exceptional five-unit walk-up building, located at 153 E. 110th St in Chicago's historic Pullman neighborhood, presents a compelling investment opportunity. Situated on a quiet, tree-lined street, the property enjoys a prime location across from the prestigious Gwendolyn Brooks College Preparatory campus and just one block north of Palmer Park, offering residents access to sporting facilities, a fitness center, and an outdoor swimming pool. The building comprises four one-bedroom, one-bathroom units and one two-bedroom, one-bathroom garden apartment. Each unit boasts luxury vinyl plank flooring, spacious floor plans with oversized living rooms, and electric baseboard heating. Significant recent improvements include new copper plumbing, updated electrical systems, and extensive masonry and tuckpointing work. The property also features five potential income-producing parking spaces, adding to its overall value. The building currently boasts a 9.68% cap rate, with potential to exceed 10.5% through market rate adjustments, yielding a projected cash return of 19.79%. Individual and separate utilities for each unit provide efficient management and cost control. This property offers a strong, positive cash-flowing asset with significant upside potential for the discerning investor. The building size is 4,006 square feet, situated on a 0.09 acre lot.