3018 E Cheltenham Place

Chicago, Illinois 60649

For sale is a value add opportunity in the dynamic South Shore neighborhood. This solid 12 unit building is well maintained, and the current owner has kept the units in good condition. Recently build new deck and stairs system has now cleared this building of all City violations. Owner just spent $40K on new front stairways, electric and new lighting. 12 apartments all have separate heat and electric. Building is fully occupied and all tenants are paying. Expenses for this building are lower than usual for this number of apartments. No common area hallways, corridors or basement reduces maintenance and utility expenses. Easy low maintenance building. Up to 6 private parking spaces at rear of the property and a common area laundry room for tenant use. All 1 bed modern apartments with newer plumbing and electric and open plan kitchens. Low rents and long term tenants. A new owner has the opportunity to push rents to market with minimal rehab work. Great South Shore location by the lake with plenty of upside. Lots of investor activity in the area. Close proximity to new site of Obama library. Lake front access, Park access, South Shore Golf Club all in the immediate area. Excellent public transport links. Bus outside the property on 79th St, 1 block to Metra station for train to downtown and 1 block to LSD for fast easy commute to the City. Owner is a licensed realtor in the state of Illinois. Listing agent is not the owner.