Description
MoHall Commercial presents this Value Add 16-Unit investment opportunity for sale in the Woodlawn Community, operating at a current 6.62% Cap Rate. Located near the University of Chicago campus, the CTA Green Line and the Obama Library construction site, this building has an incredible upside for appreciation. This building features 8 commercial units and 8 residential units. The commercial units feature long term tenants, with thriving businesses in the community. The unit mix includes (2) 3 bedroom units with 1.5 baths and (6) 2 bedroom units with 1 bath. Based on market demand, 3 bedrooms in the area are renting for $1,800 a month and 2 bedrooms $1,400 a month. With improved leasing, real estate property tax appeals and updates to the building an investor could achieve a Cap Rate of 17.2%. The Woodlawn community has seen many recent developments, which has spurred the need and demand for housing.
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Courtesy of: MoHall Commerical & Urban Development Based on information submitted to the MRED as of date and time shown below. All data is obtained from various
sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change
without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the
office/agent presenting the information. © 2022. http://www.mredllc.com/comms/resources/DMCA_Notice.pdf Updated: 24th June, 2022 10:38 PM (UTC)
