This is the best large multi-unit building on the market in hot Chatham. Its fully stabilized and STILL represents a great upside by converting some of the one bdrm units to two bdrm units and by converting the tenant base to CHA-vouchered tenants over time. (Only one section 8 tenant currently.) Current owner has polished this gem and made it shine. Professionally managed and maintained. Roof, hot water tank, furnace and more all updated. In turn-key shape. Taxes have been successfully appealed. Currently grossing over $203K and $218K is easily achieved.
This listing 8212 South Drexel Avenue East Chicago, Il 60619
is a multi family 5+ listing
on a lot of 12,400 sqft (or 100' x 124'). 8212 South Drexel Avenue East was built in 1927. 8212 South Drexel Avenue East is located in Chicago and in ZIP Code 60619.
It has been listed on our site since 7/10/17.
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Chatham is a south Chicago neighborhood that takes pride in its roots and continues to flourish culturally. Click here to read more.
*Private mortgage insurance is an insurance policy that a residential mortgage lender requires of the borrower if the loan-to-value (LTV) ratio of the home is greater than 80%. Mortgage insurance protects the lender from the risk that the borrower may default on the loan. Federal law requires lenders to notify borrowers when the loan-to-value ratio drops below 80%. Mortgage insurance premiums vary, but generally range from $1,000 to $5,000 a year for an average priced home.
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