Kiser Group is pleased to exclusively offer for purchase the sale of 3156 E. 80th Street, a meticulously maintained, eight (8) unit walk up located directly adjacent to Lake Michigan in the quaint neighborhood of South Chicago. The building sits on an incredibly quiet, tree lined street nestled amongst an abundance of single family residences. It’s also situated just due north of Chicago’s South Works Site – the 415 acre former US Steel site slated for redevelopment, and just south of the groundbreaking Obama Presidential Library, which has recently began construction.

3156 E. 80th has an incredibly desirable unit mix consisting solely of 2Bd/1Ba apartment units. All of which being incredibly spacious and boast hardwood flooring throughout. Additionally, all of the units are equipped with updated kitchens and baths featuring modern appliances and bathroom vanities. While nothing has been overlooked, recent capital improvements to the building consist of, but not limited to, a new roof, updated copper plumbing, individual and newer separate water tanks and furnaces, along with excessive masonry and tuckpointing.

3156 E. 80th presents a new or seasoned investor the opportunity to acquire a pristinely renovated building in one of Chicago’s most desirable and appreciating South Side neighborhoods. From day one, a new owner will realize an in place return of nearly 18%. However, there’s also a very apparent value add strategy. Due to the buildings inherent long term tenant base, the current rents fluctuate from $575 to $1,100 for similar units. Solely by normalizing the buildings current rent roll, there is an opportunity to achieve north of a 13% cap rate.