Property for Sale: 451 E 107th, Chicago, IL 60628
$1,440,000
$1,440,000
451 E 107th,
Chicago, IL 60628
$1,440,000
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Price:
$1,440,000
Est. payment: Skip to Mortgage Calculator
Type Commercial
Year Built 1963
City Chicago
County Cook
MLS 12088161
Status Active
Pleased to present an exceptional investment opportunity at 445-459 E 107th St, Chicago, IL 60628. This 24-unit multifamily property, located in Chicago's historic Roseland neighborhood. The unit mix is (24) one-bedroom, one-bathroom units. Property Highlights Location: Situated fourteen miles south of the Loop, the property offers easy access to major transportation routes including the Chicago Skyway and Lake Shore Drive, facilitating convenient commutes to downtown Chicago and surrounding areas. The proximity to CTA bus stops along 107th Street and the Metra station at 107th Street ensures excellent public transportation options for residents. Additionally, Midway International Airport is just fourteen miles northwest of the property, providing further connectivity. Built in 1963: The property's mid-century construction offers robust structural integrity and a solid foundation for potential upgrades, making it an appealing option for value-add investors. Investment Potential Current Financials: The property currently generates an average rent of $869 per one-bedroom unit, resulting in a Net Operating Income (NOI) of $114,103. With a current cap rate of 7.92%, this investment offers solid initial returns. Pro Forma Financials: With strategic renovations and effective management, the average rent per one-bedroom unit is projected to increase to $980, boosting the NOI to $154,078. This improvement elevates the pro forma cap rate to an impressive 10.70%, highlighting the property's substantial potential for increased profitability. This property represents a significant value-add opportunity for discerning investors. The ability to enhance the units and optimize operational efficiencies presents a clear path to increased rental income and property value. Given the strong demand for affordable housing in the area and the property's advantageous location, there is considerable upside potential for both rental income and overall asset appreciation. Strategic Location Benefits Proximity to Downtown: Being just fourteen miles from the Loop, residents can easily access the vibrant heart of Chicago, enjoying its economic and cultural benefits while residing in a quieter, suburban-like setting. Transportation Accessibility: The property's close proximity to key transit options, including CTA bus stops and the Metra station, offers residents seamless travel throughout the city and beyond. Local Amenities: Roseland is a well-established neighborhood with a rich history and a range of local amenities. Residents can enjoy nearby parks, shopping centers, dining options, and community services, enhancing their quality of life and making the property an attractive rental option. 445-459 E 107th St presents a rare opportunity to acquire a well-located, value-add multifamily asset in a thriving Chicago neighborhood. With strong current cash flow and substantial upside potential, this property is ideal for investors looking to capitalize on the growing demand for quality rental housing in Chicago. Don't miss the chance to invest in this promising asset with significant value enhancement opportunities and robust financial returns.
Lot & Building Features
Tax Year 2022
Lot Dimensions 125 X 160 ft
Price History of 451 107th, Chicago, IL
Date | Name | Price | Difference |
---|---|---|---|
12/31/1969 | Listing Price | $1,440,000 | N/A |
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed. |
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451 107th (MLS #12088161) is a commercial listing located in Chicago, IL. This property was listed on 06/18/2024 and has been priced for sale at $1,440,000.
![]() Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information courtesy of: Keller Williams ONEChicago |