6802 S Prairie Ave
- 38-Unit Multifamily Redevelopment Opportunity
- 100% Vacant Building
- Significant Capital Improvements Already Completed
- Meaningful Renovation Progress in Place
- Approved Plans & Permitting Completed
- Clear Path to Stabilization & Value Creation
Property Description
Essex Realty Group LLC has been exclusively engaged to market for sale 6802–6808 S Prairie Ave, a 38-unit multifamily redevelopment opportunity located in Chicago’s Greater Grand Crossing neighborhood. Comprised of seventeen (17) two-bedroom units and twenty-one (21) one-bedroom units, the Property presents investors with a rare opportunity to acquire a large-scale courtyard asset where substantial infrastructure and renovation work has already been completed, creating a clear path toward stabilization and value creation. Ownership has invested significantly into the Property through major building system upgrades and unit improvements. Recent capital work includes new copper water piping throughout, roof repair and reinforcement, HVAC improvements including new ductwork and furnace installation in select units, updated electrical work, and plumbing infrastructure prepared for future tankless hot water installation. Ownership has also completed permitting and secured approved plans and drawings for the entire building. The Property includes twelve (12) two-bedroom units reported to be approximately 90% complete with new HVAC, updated electrical, light fixtures, painting, and renovated common areas. Additional units have progressed through framing and infrastructure stages, allowing a new owner to complete the remaining improvements and execute a phased lease-up strategy. With significant capital already deployed and a clear roadmap to completion, 6802–6808 S Prairie offers investors the opportunity to unlock substantial long-term value.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,800,000 |
| No. of Units: | 38 |
| Year Built: | 1927 |
| Lot Size: | 0.35 Acres |
| Opportunity Zone: | No |
| Price per unit: | $73,684 |
| Property Website | Click Here |
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