Property Overview
Interra Realty LLC has been exclusively engaged to present for sale 8259 S. Loomis Blvd. Located in Chicago's Auburn Gresham neighborhood, the subject property consists of 13 apartments, featuring an optimal unit mix of six (6) one-bedroom and seven (7) two-bedroom layouts. The building has been well managed with a strong pride of ownership. Seven of the units feature updated kitchens with newer cabinetry and granite counter tops. Further improvements include two new hot water storage tanks (2022), and newer wood porches. There is also a vacant adjacent lot included in the sale of the property that is currently being used by tenants for on-site parking.
The property presents qualified investors with a unique opportunity to own a rarely available property. Rents remain below market levels and present a new owner with the ability to achieve strong returns by increasing rents to market levels upon tenant turnover.
Highlights
- Desirable Unit Mix: (6) 1 BD & (7) 2 BD
- 7/13 Units Renovated with Modern Finishes/Remaining Vintage Units in Excellent Condition
- Strong Value Add Component by Bringing Rents to Market Levels
- Newer Porches & Hot Water Tanks
- Vacant Adjacent Lot Included/Currently Used For On-Site Parking
- First Time Being Offered for Sale in 30 Years