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$625,000
5,500
square ft

6457 S Cottage Grove Avenue
Chicago, Illinois 60637

Closed / MLS #11420422 / Multiple Family / Woodlawn
Listing information updated 3/1/2023 at 11:03am
MoHall Commercial presents this Value Add 16-Unit investment opportunity for sale in the Woodlawn Community. 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, rehab/construction updates, real estate property tax appeals and updates to the building an investor could achieve a Cap Rate of 17.2%. This is a repositioning opportunity for the right developer.
Exterior Type:
Brick
Water Front:
No
Square Feet:
5,500
Built:
1904
Parking Spaces:
5
Cooling System:
Office Only
Stories:
3
Potential Use:
Commercial, Office and Research, Retail, Special Use
Zoning:
COMMR
Building Square Feet:
5,500
Current Net Income:
$61,265
Unit 1:
5 room(s) / 3 bed(s) / 1 bath(s)
Unit 2:
4 room(s) / 2 bed(s) / 1 bath(s)
Tax Amount:
$37,265
Tax Year:
2021
Zip Code:
60637
City:
Chicago
County:
Cook

Listing Office: MoHall Commerical & Urban Development

Listing Office Phone: 312.826.9925

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 3/1/2023 at 11:03am. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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. Some listings have been excluded from this website.

Woodlawn

Woodlawn, IL

Currently in the midst of a major revival, Woodlawn is finally getting the attention it deserves. The South Side neighborhood boasts a prime location near the lake and is surrounded by beautiful parks including Washington Park and Jackson Park, home to the largest and oldest beach house in the city....

CTA

CTA
Green line at Cottage Grove

Metra

Metra
Metra Electric Main Branch line at 63rd St Metra
Metra
Metra Electric South Chicago Branch line at 67th St Metra
Metra
South Shore line at 63rd Street
$382,934
Average Sale Price
91
Average Days On The Market
96%
Sales Prices VS. List Price
Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.
Map of 6457 S Cottage Grove Avenue, Chicago, IL 60637
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6457 S Cottage Grove Avenue, Chicago, IL 60637 is a multiple family which sold for $625,000. This multiple family has been listed on @properties Christie's International Real Estate since June 1st, 2022 and was built in 1904. The nearest transit stops include Cottage Grove CTA Green line and 63rd St Metra Metra Metra Electric Main Branch line.

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