7705-13 South Laflin Street, Chicago, IL for sale

Investment Overview

Essex Realty Group, LLC is pleased to present the opportunity to acquire a 22-unit multifamily property located in the Auburn Gresham neighborhood of Chicago's South Side. The property features a desirable mix of one-, two-, and three-bedroom apartments and is currently 100% occupied, offering investors immediate cash flow at an attractive 10.3% in-place cap rate. Approximately 45% of the tenancy is subsidized, providing a stable income stream while maintaining meaningful exposure to market-rate rental growth. The property has benefited from recent capital improvements, including renovated units, upgraded electrical service, and continued plumbing improvements. Located on a residential block comprised primarily of single-family homes, the asset offers a desirable neighborhood setting while remaining well-positioned to benefit from Auburn Gresham's strong multifamily investment fundamentals. With conservative rent upside and limited near-term capital expenditure requirements, the offering presents an opportunity to acquire a stabilized investment with durable cash flow and long-term appreciation potential.

Investment Highlights

• 22-Unit Multifamily Asset with a diverse unit mix: 8x 1Bd/1Ba | 10x 2Bd/1Ba | 4x 3Bd/1Ba
• 100% Occupied with strong in-place income
• Attractive 10.3% in-place cap rate with a projected 11.6% stabilized cap rate
• Strong investor returns with a projected 20.3% in-place and 26.5% stabilized cash-on-cash return
• Renovated Units enhancing tenant appeal and rental growth potential
• Major Capital Improvements: 1,200-amp electrical service upgrade
• Boiler Building with centralized heating system