Multifamily N Illinois

$1.85 million sale for 16-unit apartment property in Chicago's South Shore

$1.85 million sale for 16-unit apartment property in Chicago's South Shore,ph1

Marcus & Millichap’s Anthony Hardy, a senior associate, and Thomas Heitzman, an associate, both the firm’s Chicago Downtown office, represented the buyer and seller in the sale of a 16-unit apartment property located in Chicago’s South Shore neighborhood. The asset sold for $1,850,000.

The vintage building, constructed in 1923, is located at 6816 S. Oglesby Avenue and was completely renovated in 2014. The property is comprised of six two-bedroom/one-bathroom units, one two-bedroom/two-bathroom unit, five three-bedroom/two-bathroom units, two four-bedroom/two-bathroom units and two four-bedroom/two-and-one-half-bathroom units.

All the spacious units feature large, open floor plans, new kitchen countertops, stainless steel appliances, new bathroom vanities and new flooring. The renovations in 2014 included exterior improvements to the roof, windows, plumbing, electrical and HVAC. The property is within walking distance to Jackson Park, home to the Museum of Science and Industry, an 18-hole golf course and the forthcoming Obama Presidential Center.