8,928 sq ft;
lot: 3049 sq ft lot
Commercial: Multi Family 5+ - MLS# 12578309
Tools & Resources:
Description
Located at the prominent corner of 23rd Street and Sacramento Avenue, this newer renovated (completion set for spring 2026) 9-unit brick apartment building offers a compelling combination of modern upgrades, strong unit mix, and long-term durability. The property encompasses approximately 8,930 square feet and includes a full basement, providing additional functional space and operational flexibility. Its corner exposure delivers excellent natural light throughout the building, enhancing tenant appeal and overall livability. The unit mix is well diversified and highly marketable, consisting of one 1-bedroom/1-bath unit, one 3-bedroom/2-bath unit, five 2-bedroom/1-bath units, two 3-bedroom/1-bath units, and one spacious 4-bedroom/2-bath unit. Each apartment has been thoughtfully updated with modern kitchens and baths, in-unit laundry, and individual HVAC systems will be installed (or credit) upon sale, aligning the property with current renter expectations and minimizing near-term capital needs. Recent capital improvements include updated electrical systems and a new roof (complete tear off in 2025), positioning the asset as a low-maintenance, stabilized investment.
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active Under Contract
- County/Area: Cook County
- Zip Code: 60623
- Year Built: 1911
- Sq.Ft.: 8,928 sq ft
- Stories: 3
- Units: 9 units
- Lot Size: 3049 sq ft lot
- Zoning: MULTI
- # Of Ranges: 9
- # Of Refrigs: 9
- # Of Washers: 8
- Approximate Age: New Rehab
- Building Area Total: 8928
- Built Before 1978 (Y/N): Yes
- Cap Rate: 8.65
- Construction Materials: Brick
- Cooling: Central Air, Central Individual
- Directions: Cermak & Marshall Blvd - South to 23rd St, West 1 block to 2258 on the Corner of 23rd & Sacramento.
- Electric: Circuit Breakers, Service - 201 to 600 Amps
- Gross Income: 175740
- Gross Rent Multiplier: 8.82
- Heat/Ventilation: Central Heat/Indiv Controls, Forced Air, Gas
- Information: List Broker Must Accompany, 48-Hr Notice Required
- Lot Size Source: County Records
- Lot Size Square Feet: 3150
- Main Type: Commercial Sale
- Roof: Composition
- Roof Structure: Pitched
- Tax Annual Amount: 13963.03
- Tax Year: 2024
- Total Monthly Income: 14645
- Township: West Chicago
- Type Multi-Family: Corridor-Interior Entrance, Flats
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