Interra Realty has been exclusively engaged to market 7156-78 S. Rhodes Avenue, Chicago, for sale. The subject investment property is an 8-unit, walk-up style, multifamily asset in the historic Grand Crossing neighborhood.

The property offers an attractive unit mix of all two-bedroom and one-bathroom apartments. The property features new electrical service, a newer steam boiler, two newer hot water storage tanks, copper plumbing, and a newer tear-off roof. Six of eight units feature market-leading finishes including granite countertops, newer cabinetry, newer bathroom tile surrounds and vanities in addition to updated flooring. A new buyer may elect to continue with renovation of the other two units in order to achieve higher rental rates in line with other updated units at the property.

A new investor has the opportunity to acquire a fully occupied, recently improved property with an in place of cap rate of over 10% in addition to a healthy cash-on-cash return.