7701 S Eggleston Avenue
Property Description
Until Just Recently, This Building Total Monthly Income of $8,100 per Month & Can be Filled w/ Tenants Quickly, & Has Potential for a Cap Rate: 19.5% & Cash-on-Cash Return: 42% - Nearly Impossible to Find Anywhere! With Some Updates, You Should be Able to Rent Units to Achieve Gross Rents of $10,500-$11,000 Monthly. 7 of 9 Units Now Vacant - All-Brick 9-Unit on a Quiet Block in Chicago's Hidden Gem - Winneconna Parkway! Check Out This Incredible Investment Opportunity Located in One of Chicago's Most Unique & Desirable Residential Enclaves! Situated in Historic Winneconna Parkway, This All-Brick 9-Unit Building is a True Blank Canvas for the Savvy Investor! With Only 2 Units Occupied, the Next Owner Can Skip Inherited Tenants & Start Fresh w/ Their Own Screening Criteria, Lease Terms & Rent Levels. Light Updates to the Vacant Units Can Position the Building for Strong Rental Income & a Higher Valuation Upon Stabilization - Ideal for Buyers Seeking Forced Appreciation! Featuring Six (2 Bed / 1 Bath) Units and Three (1 Bed / 1 Bath) Units - Totaling 15 Bedrooms and 9 Bathrooms! Most Units Have Gorgeous Hardwood Floors and Separate Living & Dining Rooms! All Units Include Stoves & Refrigerators. Large Building w/ 6,528 Sq Ft & Multiple Basements. Beyond the Numbers, This Building is Located in the Winneconna Parkway / Auburn Park Area, a True Hidden Treasure in One of the Nicest Residential Blocks in All of Chicago. Developed in the Late 1800s on Land Once Owned by Chicago's First Mayor, William B. Ogden, the Area is Known for its Serene Lagoons, Charming Bridges & Historic Architecture! This is More Than Just an Apartment Building - It's an Opportunity to Own Property in a Historically Rich & Highly Promising Area of Chicago. The New Metra Auburn Park Station is Coming to Winneconna Parkway & 79th Street! The 79th Street Corridor Plan is Set to Completely Revitalize and Transform the Area w/ a Vibrant Mix of New Uses! Don't Miss Out on This Rare 9-Unit w/ Massive Upside Potential! Sold As-Is. No Repairs or Credits. Property Taxes & Utilities Prorated Through November 30th, 2026. Quick Closing Required. Cash or Hard Money Only.Broker Details
eXp Realty, LLC (888) 574-9405
MLS ID: 8462 State License Number: 475121545
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $299,900 |
| No. of Units: | 9 |
| Year Built: | 1924 |
| Opportunity Zone: | No |
| Price per unit: | $33,322 |
| Property Website | Click Here |
| Number of Bedrooms: | 16 |
| Number of Bathrooms: | 10 |
ID: 3yd-MREDIL-12767989
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