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8155 S Marshfield Ave 18 Unit Apartment Building $991,767 CAD ($55,098 CAD/Unit) Chicago, IL 60620
Investment Highlights
- Gresham is a long-established South Side Chicago community bounded by 79th, Halsted, 87th, and Damen
- Strongest 1BR rent tier in the submarket
- Dense, transit-served neighborhood with an entrenched renter base.
Executive Summary
33 Realty presents 8155 S Marshfield Avenue — an 18-unit, 100% vacant multifamily reposition opportunity in Chicago's Gresham submarket. The asset offers a clean unit mix of all 1BR/1BA layouts, providing a buyer with full control to execute a unit-by-unit interior renovation and stabilize the asset at market rents.
The buyer acquires a clean slate. With $810,000 ($45,000/door) of underwritten rehab capital folded into financing, the asset stabilizes at $146,888 NOI on $277,020 of effective gross income. Vacant delivery removes tenant displacement risk and lets a new owner deliver renovated product directly into the strongest 1BR rent tier in the submarket.
The buyer acquires a clean slate. With $810,000 ($45,000/door) of underwritten rehab capital folded into financing, the asset stabilizes at $146,888 NOI on $277,020 of effective gross income. Vacant delivery removes tenant displacement risk and lets a new owner deliver renovated product directly into the strongest 1BR rent tier in the submarket.
Property Facts
| Price | $991,767 CAD | Building Class | C |
| Price Per Unit | $55,098 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 14,000 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District | ||
| Price | $991,767 CAD |
| Price Per Unit | $55,098 CAD |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 14,000 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 650 |
| 1+1 | 12 | - | 500 |
1 1
Moderately walkable
70/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-31-223-017-0000 | Improvements Assessment | $101,871 CAD |
| Land Assessment | $10,397 CAD | Total Assessment | $112,268 CAD |
Property Taxes
Parcel Number
20-31-223-017-0000
Land Assessment
$10,397 CAD
Improvements Assessment
$101,871 CAD
Total Assessment
$112,268 CAD
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8155 S Marshfield Ave
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