8156 S Laflin Street
Chicago, IL 60620

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Description

This solid brick 18-unit multifamily building presents an exceptional value-add opportunity. Currently, the building is fully occupied. Each unit is a spacious one-bedroom, one-bath layout featuring hardwood floors throughout and classic vintage kitchens and baths-ready for thoughtful updates that can unlock strong rental upside. Investors will appreciate the potential to modernize interiors, increase rents to market levels, and explore the possibility of converting six units into two-bedroom layouts for even greater income growth. It has a new boiler, the water tank is less than 5 yrs old and significant improvements were made to the back porch. The property offers ample off-street parking and is ideally situated directly across from Cook Elementary School, just one block north of Foster Park, and three blocks from the vibrant retail corridor along Ashland Avenue-an attractive location for tenants seeking convenience and community.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60620
• Year Built: 1928
• Sq.Ft.: 15,825 sq ft
• Stories: 3
• Units: 18 units
• Basement: Unfinished
• Lot Size: 9148 sq ft lot
• Zoning: MULTI
• Approximate Age: Older
• Building Area Total: 15825
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: Take 83rd Street E/W to Laflin, then go North to address. Just four blocks East of Ashland Avenue and 1.5 blocks North of 83rd Street.
• Electric: Separate Meters
• Electric Expense: 1512
• Electric Expense Source: Actual
• Expense Year: 2025
• Foundation Details: Concrete Perimeter
• Fuel Expense: 12347
• Fuel Expense Source: Actual
• Gross Income: 170580
• Gross Rent Multiplier: 6.52
• Gross Scheduled Income: 170580
• Heat/Ventilation: Central Bldg Heat
• Information: 48-Hr Notice Required
• Insurance Expense: 18500
• Insurance Expense Source: Actual
• Lot Size Source: Appraiser
• Lot Size Square Feet: 9315
• Main Type: Commercial Sale
• Maintenance Expense: 5400
• Manager Expense: 8529
• Manager Expense Source: AC
• Operating Expense: 86831
• Other Expense: 8529
• Other Expense Source: Actual
• Repairs-Decor Expense Source: Owner Projection
• Roof: Membrane, Rubber
• Roof Structure: Flat
• Tax Annual Amount: 18352
• Tax Year: 2023
• Tenant Pays: Electricity
• Total Annual Expense Source: Combination
• Total Monthly Income: 14215
• Trash Expense: 4344
• Trash Expense Source: Actual
• Type Multi-Family: Corridor-Exterior Entrance
• Water Expense Source: Actual
• Water Sewer Expense: 9780