Lender Driven Sale | Mixed Use in Chicago 8250-58 S Racine Ave
20 Apartment Units Online Auction Sale Chicago, IL 60620
Investment Highlights
- Three-story mixed-use, featuring 20 multifamily units and five retail units just south of Downtown Chicago presents substantial value-add potential.
- Investors can increase income by leasing vacant retail spaces and stabilizing multifamily occupancy.
- With no new multifamily developments since 2014, the area benefits from constrained supply, strong rent growth, and a dense renter population.
- Prime location on a high-visibility corner with over 14,000 daily vehicles, close to major transit hubs and the Dan Ryan Expressway.
- Auburn Gresham provides excellent public transit options ensuring seamless connectivity to Downtown Chicago and surrounding areas.
- Abundant amenities include parks, The Beverly Country Club, and national retailers such as Walmart, Lowe’s, Whole Foods, Dollar General, and Aldi.
Executive Summary
This corner property benefits from unparalleled exposure, with over 14,000 daily vehicles traveling along W 83rd Avenue. Situated just 20 minutes from Downtown Chicago, it is conveniently located near major transit options, including the Gresham Metra Station, the 79th Red Line L Station, and the Dan Ryan Expressway (Interstate 94)
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
$99,999
Asset Value
$99,999
12 Month Sales Volume
9.9%
Market Cap Rate
9.9%
Market Sale Price/Unit Change (YOY)
Market Sale Price per Unit
Chicago - IL USA
Market Cap Rate
Chicago - IL USA
Market Sale Price per Unit by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per Unit Distribution
Market Cap Rate Distribution
Property Facts
Amenities
Unit Amenities
- Kitchen
PROPERTY TAXES
Parcel Number | 20-32-131-035-0000 | Improvements Assessment | $138,008 |
Land Assessment | $11,192 | Total Assessment | $149,200 |
zoning
Zoning Code | B3-2 |