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About the Listing 85348 - 183301,180931
18-unit multifamily investment opportunity located in Chicago's Auburn Gresham neighborhood. This corner brick apartment building offers investors a compelling value-add opportunity with dramatically below-market rents and strong upside potential through renovations and improved management. Current average rents are approximately $815/month, while renovated comparable units in the area are achieving $1,100-$1,450/month. The property consists entirely of spacious 1-bedroom/1-bathroom units and is currently fully occupied, providing immediate in-place cash flow while allowing new ownership to implement a strategic renovation program over time. Many tenants are currently month-to-month, creating flexibility for future rent adjustments and unit improvements. Recent capital improvements include a new boiler installed in 2025 and newer hot water tanks installed in 2022. The property is offered at approximately $54,389 per unit, significantly below recent comparable sales and current on-market pricing in the surrounding area. Conveniently located near public transportation, major thoroughfares, and ongoing community investment initiatives, this asset presents an excellent opportunity for investors seeking long-term appreciation and increased cash flow potential in a growing South Side submarket. (Offering Memorandum - available upon request).
Listing Highlights
Status
Active
Days on Site
14
Property Type
Multi-Family
MLS ®
12663399
Year Built
1928
Total Square Footage
15,825
Lot/Acreage
0.21
County
Cook
Area
CHI - Auburn Gresham
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Central Bldg Heat
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Unfinished
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 75 X 125
- Zoning: MULTI
- Roof: Membrane,Rubber
- Others:
- Sewer:
Financial Details
- Tax Amount: $19,287
- Taxes w/Assessments: N/A
- Tax/Property ID: 20321170350000
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
8152 S Laflin St Chicago, IL 60620
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