Property Overview
Interra Realty has been exclusively engaged to market 8222-8224 S. Martin Luther King Dr for sale. The subject investment property is a 21 unit multifamily asset in the Chatham submarket on Chicago’s south side. The property is a midcentury walk-up featuring ample courtyard space and parking for tenant convenience.
The unit mix at the property is comprised of 7 ground floor office units and 14 one-bedroom apartments. The property presents a new investor a significant value add opportunity through updating finishes in existing apartments and adjusting rents to market rate.
Highlights
- Value add opportunity through cosmetic updates and adjusting to
market rents - Ability to achieve 11%+ cap rate with light cosmetic renovation
- Beautiful courtyard for tenants’ enjoyment
- Convenient location with proximity to both I-90 and Metra Electric
Key Details
Sale Price
$1,050,000
Number of Units
Twenty-One (21)
Submarket
Chatham
