Property Overview

Interra Realty has been exclusively engaged to market 6938 S. Clyde Avenue, Chicago for sale. The subject investment property is a 27 unit, courtyardstyle, multifamily asset in the Jackson Park Highlands submarket of South Shore.

The property boasts a large lobby, an on site management office and on site laundry for added tenant convenience. The attractive and diverse unit mix at the property ranges from large one bedroom to three bedroom apartments, twenty one of which have unique duplex floorplans. The units are heated via baseboard hot water and feature individual circuit breaker panels in each apartment. Recently, ownership has installed new common area hallway doors.

A new buyer has the opportunity to take advantage of below market rents and capitalize on strong leasing momentum in the neighborhood. With high in-place occupancy, the offering presents a mix of stability and operational upside. In addition, the property features an attractive assumable mortgage with an approximate balance of ~$1,675,000, 4.3% rate and 8/31/2031 maturity. The assumption would entail a 1% fee + legal review fees.

Highlights

  • High Curb Appeal Vintage Courtyard
  • Desirable Jackson Park Highlands Location
  • Attractive Unit Mix with 1, 2 and 3 Bedroom Layouts (Majority Are DuplexStyle)
  • On Site Laundry
  • Operational Upside
  • Assumable Mortgage – 4.2%, ~$1,675,000 Balance, 2031 Maturity

Key Details

Sale Price:
$2,800,000
Mumber of Units
Twenty-Seven (27)
Submarket
South Shore