Multifamily
6501 South Maplewood Avenue
6501 S Maplewood Ave, Chicago, IL 60629
Listing Price: $850,000
Investment Overview
Marcus & Millichap is pleased to present 6501 South Maplewood Avenue in the Chicago Lawn neighborhood of Chicago, IL. The property consists of 11 apartments. The exact unit mix is Six One-Bedroom/One-Bath, Three Two-Bedroom/One-Bath, and Two Three-Bedroom/One-Bath. Seven of these units have been updated over the past three years. All eleven units are currently occupied with nine of those eleven rented to subsidized tenants at well above market rents. This gives an investor the opportunity to acquire a stabilized building with additional value to be added through the remaining four unrenovated units. The property features a Two-car garage, a new boiler installed in 2022, and current ownership is replacing a number of lentils in 2024. 6501 South Maplewood Avenue sits in the Chicago Lawn neighborhood of Chicago, just 15 minutes from Chicago’s Midway International Airport and Two blocks South of 63rdStreet, the main retail corridor through Marquette Park. The property sits about a mile and a half to the nearest greenline station at Ashland & 63rd, and is in very close proximity to multiple CTA bus stops. This asset presents an investor with the opportunity to acquire a highly renovated, stable, cash-flowing asset with additional upside potential in a desirable and appreciating Marquette Park sub-market.
6501 South Maplewood Avenue
Investment Highlights
- Favorable Unit Mix Features Six One-Bed/One-Bath, Three Two-Bed/One-Bath, and Two Three-Bed/One-Bath Units
- Major CapEx Improvements Include Seven Full Unit Renovations and a Brand New Boiler in 2022. Lentils Replaced in 2024.
- Four Units Have Opportunity for Upside Through Renovations and Rent Increases
- 82 Percent Subsidized Rents
Exclusively Listed By
Listing Price: $850,000
Investment Highlights
- Favorable Unit Mix Features Six One-Bed/One-Bath, Three Two-Bed/One-Bath, and Two Three-Bed/One-Bath Units
- Major CapEx Improvements Include Seven Full Unit Renovations and a Brand New Boiler in 2022. Lentils Replaced in 2024.
- Four Units Have Opportunity for Upside Through Renovations and Rent Increases
- 82 Percent Subsidized Rents
Investment Overview
Marcus & Millichap is pleased to present 6501 South Maplewood Avenue in the Chicago Lawn neighborhood of Chicago, IL. The property consists of 11 apartments. The exact unit mix is Six One-Bedroom/One-Bath, Three Two-Bedroom/One-Bath, and Two Three-Bedroom/One-Bath. Seven of these units have been updated over the past three years. All eleven units are currently occupied with nine of those eleven rented to subsidized tenants at well above market rents. This gives an investor the opportunity to acquire a stabilized building with additional value to be added through the remaining four unrenovated units. The property features a Two-car garage, a new boiler installed in 2022, and current ownership is replacing a number of lentils in 2024. 6501 South Maplewood Avenue sits in the Chicago Lawn neighborhood of Chicago, just 15 minutes from Chicago’s Midway International Airport and Two blocks South of 63rdStreet, the main retail corridor through Marquette Park. The property sits about a mile and a half to the nearest greenline station at Ashland & 63rd, and is in very close proximity to multiple CTA bus stops. This asset presents an investor with the opportunity to acquire a highly renovated, stable, cash-flowing asset with additional upside potential in a desirable and appreciating Marquette Park sub-market.
Exclusively Listed By
