8001 S Maryland Avenue
Chicago, IL 60619

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Description

12-unit brick walk-up building located in Chicago's East Chatham neighborhood. The property features a well-balanced unit mix of six (6) one-bedroom / one-bath apartments and six (6) two-bedroom / one-bath apartments, catering to strong and consistent tenant demand in the submarket. The building has undergone significant recent capital improvements, positioning it as a turnkey investment opportunity with meaningful rental upside. Major upgrades include the installation of brand-new Mitsubishi heating and air conditioning minisplit systems in all units (completed in 2025), providing tenants with modern, energy-efficient climate control. Hot water is supplied by two (2) newly installed Rheem Performance 75-gallon natural gas water heaters (150 gallons total), each backed by a 6-year warranty. The roof was replaced approximately six years ago, further reducing near-term capital expenditure concerns. Additional building enhancements include individual electrical panels and a full perimeter security camera system, both newly installed in 2025, improving operational efficiency, safety, and long-term asset performance. This well-maintained East Chatham asset offers a stabilized, low-maintenance property with organic rent growth potential. With modern mechanical systems already in place and strong neighborhood fundamentals, ownership can benefit from a clean, turnkey operation and long-term hold stability.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60619
• Year Built: 1924
• Sq.Ft.: 8,118 sq ft
• Stories: 3
• Units: 12 units
• Basement: Yes, See Basement Features
• Lot Size: 3485 sq ft lot
• Zoning: MULTI
• Approximate Age: Older
• Basement Features: Unfinished, Exterior Entry, Bath/Stubbed, Egress Window, 8 ft + pour, Concrete, Walk-Up Access
• Building Area Total: 8118
• Built Before 1978 (Y/N): Yes
• Cap Rate: 8.72
• Construction Materials: Brick
• Cooling: Central Individual
• Directions: Cottage Grove to 80th Street to Maryland Avenue to 8001
• Electric: Separate Meters, Over 600 Amps
• Electric Expense: 2000
• Electric Expense Source: Actual
• Foundation Details: Brick/Mortar, Concrete Perimeter
• Fuel Expense: 5617
• Fuel Expense Source: Actual
• Gross Income: 163722
• Gross Rent Multiplier: 5.54
• Gross Scheduled Income: 155595
• Heat/Ventilation: Central Heat/Indiv Controls, Baseboard
• Information: List Broker Must Accompany
• Insurance Expense: 12000
• Insurance Expense Source: Actual
• Lot Size Source: County Records
• Lot Size Square Feet: 3844
• Main Type: Commercial Sale
• Maintenance Expense: 6000
• Manager Expense: 7778
• Manager Expense Source: AC
• Operating Expense: 77091
• Other Expense: 14265
• Other Expense Source: Combination
• Repairs-Decor Expense Source: Broker Projection
• Roof Structure: Flat
• Tax Annual Amount: 17500
• Tax Year: 2024
• Total Annual Expense Source: Combination
• Total Monthly Income: 13546
• Township: Hyde Park
• Trash Expense: 3673
• Trash Expense Source: Actual
• Water Expense Source: Actual
• Water Sewer Expense: 8258