9020 S Langley Ave | Chicago, IL 60619
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9020 S Langley Ave
Chicago, IL 60619
Multifamily Property For Sale · 24 Units
Investment Highlights
- Ideal investment opportunity, offering a blend of private living spaces and communal facilities
- Property has a laundry room with (2) washers and (2) dryers, adding to the convenience for residents
Executive Summary
AW Properties is pleased to present a 24-room multifamily property located in the Chatham neighborhood. This multifamily property is an ideal investment opportunity, offering a blend of private living spaces and communal facilities in a sought-after neighborhood.
The property consists of (24) Rooms with (44) Beds. The first floor offers a variety of communal amenities including a fully-equipped shared kitchen, a versatile meeting room, and five well-appointed offices. Each floor is conveniently serviced by shared bathrooms to ensure ease and comfort for all residents. There are (3) individual HVAC units. The property has a laundry room with (2) washers and (2) dryers, adding to the convenience for residents.
The Owner has a loan with Illinois Facilities Fund (IFF), which loan will be paid off at closing. However, there is an affordable housing retention agreement with the FHLBC that requires the property to operate an affordable housing program until May 1, 2028, which any potential buyer will have to commit to operating and be approved by FHLBC. Additional information on the terms of the retention agreement are available upon request.
The property consists of (24) Rooms with (44) Beds. The first floor offers a variety of communal amenities including a fully-equipped shared kitchen, a versatile meeting room, and five well-appointed offices. Each floor is conveniently serviced by shared bathrooms to ensure ease and comfort for all residents. There are (3) individual HVAC units. The property has a laundry room with (2) washers and (2) dryers, adding to the convenience for residents.
The Owner has a loan with Illinois Facilities Fund (IFF), which loan will be paid off at closing. However, there is an affordable housing retention agreement with the FHLBC that requires the property to operate an affordable housing program until May 1, 2028, which any potential buyer will have to commit to operating and be approved by FHLBC. Additional information on the terms of the retention agreement are available upon request.
PROPERTY FACTS Under Contract
| Price Per Unit | $25,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| No. Units | 24 | Building Size | 9,700 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1950 |
| Apartment Style | Low Rise | Parcel Number | 25-03-226-039-0000 |
| Price Per Unit | $25,000 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 9,700 SF |
| No. Stories | 3 |
| Year Built | 1950 |
| Parcel Number | 25-03-226-039-0000 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+0 | 5 | - | - |
| 2+0 | 18 | - | - |
| 3+0 | 1 | - | - |
zoning
| Zoning Code | RT-4 (Residential Two-Flat, Townhouse and Multi-Unit District) |
| RT-4 (Residential Two-Flat, Townhouse and Multi-Unit District) |
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