Sale Information

Asking Price: $600,000

Building Size: 20,000 SQ FT

Cost per Square Foot: $30.00

Property Overview

Kiser Group is pleased to exclusively present for purchase, 8125 S. Cottage Grove, a twenty (20) unit mixed-use property located in Chicago's historic Chatham neighborhood. The subject property sits off Cottage Grove and is conveniently situated just blocks from both bus stations as well as two of Chicago’s Metra Stations. Additionally, the property sits three blocks from Chatham Shopping District at 85th/Cottage Grove. The subject site is currently comprised of twenty (20) total units, made up of four (4) retail store fronts, four (4) 0b/1ba studio apartments, and twelve (12) spacious 1b/1ba apartment units. Over the past five years, the site has gone through a significant renovation. Recent improvements to the building consist of, but not limited to: all new copper plumbing and water lines, a new 400amp service along with all units rewired, new boiler and hot water tank, along with reinsulating all gas lines. Furthermore, each of the sixteen (16) residential units have been updated with new fixtures, as well. 8125 S. Cottage Grove presents an investor with a rare opportunity to acquire a stabilized, strong cash flowing asset with plenty of value add components in Chicago’s desirable pocket of Chatham. From day one, a new owner will capitalize on an incredibly strong, and long term tenant base, and will realize an in place cap rate of nearly 11%. Furthermore, should a new operator decide to stabilize and raise rents to market rate levels, there is an opportunity to achieve a cash-on-cash return of 42.23% and a cap rate of nearly 15.5%.

Occupancy: 100%

Property Details

Key Points: Cap Rate: 10.96% Pro Forma Cap Rate: 15.39% Pro Forma Cash-On-Cash Return: 42.23% New Water Tank New Boiler New Electric Service Value Add

Broker Information

Kiser Group
Aaron Sklar
773.293.5000
info@kisergroup.com

1628 W. Montrose Ave.
Chicago, Illinois 60613
United States

www.kisergroup.com/

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