7006 S Cregier Avenue
Chicago, IL 60649

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Description

This is a unique opportunity to acquire a fully occupied, 11-unit investment property in Chicago's historic Jackson Park Highlands with little capital needed to increase rents. Current rents are running significantly below market, giving a new owner a clear and immediate path to grow income as units turn - no renovations, no forced displacement. The building has undergone significant improvements over the past several years, including new AC units, updated plumbing, updated electrical panels, security cameras, on-site laundry, and a custom dog park with a drainage system. A gated parking lot - rare for a building of this size - is currently unmonetized and represents additional untapped income potential. The neighborhood is only getting better: the Obama Presidential Center, Quantum Shore Development, Thrive Exchange, and more are all driving renewed demand and long-term appreciation in the area.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60649
• Year Built: 1961
• Stories: 3
• Units: 11 units
• Basement: Finished, Exterior Entry, Walk-Up Access
• Zoning: MULTI
• # Of Dishwashers: 11
• # Of Ranges: 11
• # Of Refrigs: 11
• # Of Window/Ac: 11
• Approximate Age: Older
• Building Unit Info: Smoke/Alarm Detector, Storage/Locker Area
• Built Before 1978 (Y/N): Yes
• Cap Rate: 8.59
• Construction Materials: Brick
• Cooling: Wall Sleeve
• Directions: From Stony Island Ave, turn East on 70th St. After 3 blocks, turn right onto Cregier Ave. The listing is the second building on the West (right) side of Cregier.
• Electric: Circuit Breakers
• Electric Expense: 2098
• Electric Expense Source: Actual
• Expense Year: 2025
• Fuel Expense Source: Actual
• Gross Income: 141480
• Gross Rent Multiplier: 7.42
• Gross Scheduled Income: 141480
• Heat/Ventilation: Electric
• Information: List Broker Must Accompany
• Insurance Expense: 3612
• Insurance Expense Source: Actual
• Janitor Expense: 4130
• Location: In City Limits
• Main Type: Commercial Sale
• Maintenance Expense: 5500
• Manager Expense: 6600
• Manager Expense Source: AC
• Misc Inside: Accessible Entrance, Storage Inside, Laundry Room
• Operating Expense: 44244
• Other Expense: 5290
• Other Expense Source: Combination
• Outdoor Parking: 6-12 Spaces
• Ownership Type: Individual, Limited Partnership
• Repairs-Decor Expense Source: Broker Projection
• Tax Annual Amount: 10762
• Tax Year: 2024
• Tenant Pays: Air Conditioning, Electricity, Heat, Hot Water, All Utilities
• Total Annual Expense Source: Combination
• Total Monthly Income: 11665
• Trash Expense: 3156
• Trash Expense Source: Actual
• Type Multi-Family: Garden Complex
• Utilities: Sewer Connected, Water Available, Cable Available
• Water Expense Source: Actual
• Water Sewer Expense: 3096
• Water Source: Community Water