2857 W 71st ST new Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60629
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12425932
Year Built 1958
Annual Tax Amount $14,149
Tax Year 2023
Lot Dimensions 7346
Property Sub-Type Multi Family 5+
Property Description
Attention Investors, Rehabbers, Developers! Exceptional value-add opportunity in the heart of Chicago's Marquette Park neighborhood. This solid 12-unit multifamily building features a desirable unit mix: 8 two-bedroom units, 2 one-bedroom units, and 2 studios, all served by a hydronic radiant floor heating system. With existing rents well below market, the property offers substantial upside through lease-up, rental repositioning, and renovation. Located directly across from the expansive Marquette Park-featuring walking trails, a lagoon, golf course, sports fields, and year-round recreational amenities-this location is well-suited to attract and retain long-term tenants. On-site parking for 7-8 vehicles (currently unassigned) adds further convenience and value. Estimated at a 9 cap rate with room for growth, this is a compelling opportunity for investors seeking to unlock value in a well-located multifamily asset.
Location
State IL
County Cook
Area Chi - Chicago Lawn
Interior
Cooling None
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 2