8627 S Ingleside Ave

Kiser Group is pleased to exclusively offer for purchase the sale of 8627 S. Ingleside, a quaint, and meticulously maintained eight (8) unit property in Chicago’s highly desirable Chatham neighborhood, just outside of Burnside. The building is nestled away on a quiet, tree lined street, amongst residential duplexes and single family homes. Boasting an incredibly long term tenant base, renters are attracted to the
neighborhood given its suburban and residential feel while still maintaining its urban environment. Additionally, the building sits just one block off the neighborhood’s commercial corridor along 87th street featuring an assortment of retail and grocery options.
8627 S. Ingleside is currently comprised of eight (8) one-bedroom and one-bath apartments. All of which, however, are incredibly spacious, feature an abundance of natural light, and have all been updated with newer kitchens and baths. Outside of unit renovations, recent capital improvements to the building consist of, but not limited to: masonry and tuckpointing, roof work, an updated, modern high efficient central boiler system, along with newer windows. Additionally, the building also features a parking lot in the rear suitable a fenced in parking lot for roughly six (6) cars.
8627 S. Ingleside presents an investor a unique opportunity to acquire a strong, positive cash flowing building in an incredibly desirable pocket of Chatham. From day one, an investor will realize an in-place cap rate exceeding 9% along with an equally impressive double digit cash return. Furthermore, solely by increasing rents to rents that are already being achieved in the building, there is an opportunity to achieve nearly an 11% cap rate while even further improving the returns.