Mixed-Use
1613 West 87th Street
1613 W 87th St, Chicago, IL 60620
Listing Price: $950,000
Investment Overview
Marcus & Millichap is pleased to present this mixed-use opportunity in the Auburn Gresham neighborhood of Chicago, Illinois. This property is located within a mile of Metra train stops, major retailers and 1.2 Miles from Beverly Country Club. 1613 West 87th Street consists of two retail sweets, occupied by the same tenant, and eight one-bedroom units. These well maintained and large One-Bed apartments feature hardwood and tile flooring throughout. The units feature exposed brick for a rustic feel accompanied by oak cabinets, laminate countertops, white appliances and updated bathroom vanities where needed. These apartments feature ample natural light and closet storage space for tenants. There is an opportunity for on-site parking at the rear of the building on a concrete slab. In recent years, the Auburn Gresham neighborhood has witnessed a remarkable surge in demand, attracting the interest of developers, investors, and renters alike. Residents can enjoy the peaceful ambiance of a quiet neighborhood combined with the convenience of nearby amenities. The prime location offers a perfect balance between urban living and suburban tranquility. There are also multiple CTA bus routes and Metra train stops located throughout the neighborhood, making for an easy commute to and from downtown Chicago.
1613 West 87th Street
Investment Highlights
- Tenant Paid Utilities - Residential Units Feature Electric Baseboard Heat and have Individual Hot Water Heaters in Unit
- Prime Location - Situated in the Auburn Gresham Neighborhood of Chicago on the Main Thoroughfare
- Fully Subsidized Rent Roll - 100 Percent Voucher Tenants, and a Long-Term Commercial Tenant
- Top of Market Rents - Potential to Raise the Rents to what is Being Achieved, which Reflects the Top of the Market
Exclusively Listed By
Listing Price: $950,000
Investment Highlights
- Tenant Paid Utilities - Residential Units Feature Electric Baseboard Heat and have Individual Hot Water Heaters in Unit
- Prime Location - Situated in the Auburn Gresham Neighborhood of Chicago on the Main Thoroughfare
- Fully Subsidized Rent Roll - 100 Percent Voucher Tenants, and a Long-Term Commercial Tenant
- Top of Market Rents - Potential to Raise the Rents to what is Being Achieved, which Reflects the Top of the Market
Investment Overview
Marcus & Millichap is pleased to present this mixed-use opportunity in the Auburn Gresham neighborhood of Chicago, Illinois. This property is located within a mile of Metra train stops, major retailers and 1.2 Miles from Beverly Country Club. 1613 West 87th Street consists of two retail sweets, occupied by the same tenant, and eight one-bedroom units. These well maintained and large One-Bed apartments feature hardwood and tile flooring throughout. The units feature exposed brick for a rustic feel accompanied by oak cabinets, laminate countertops, white appliances and updated bathroom vanities where needed. These apartments feature ample natural light and closet storage space for tenants. There is an opportunity for on-site parking at the rear of the building on a concrete slab. In recent years, the Auburn Gresham neighborhood has witnessed a remarkable surge in demand, attracting the interest of developers, investors, and renters alike. Residents can enjoy the peaceful ambiance of a quiet neighborhood combined with the convenience of nearby amenities. The prime location offers a perfect balance between urban living and suburban tranquility. There are also multiple CTA bus routes and Metra train stops located throughout the neighborhood, making for an easy commute to and from downtown Chicago.
Exclusively Listed By
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