8201 S. Vernon 15 Unit Apartment Building Offered at $1,688,400 CAD at a 9% Cap Rate Chicago, IL 60619

Kiser Group is pleased to exclusively present for purchase 8201 S. Vernon, a fifteen (15) unit apartment building located in the heart of Chicago's Chatham neighborhood. The property benefits from convenient access to public transportation, including nearby CTA bus routes and the Metra Electric line, providing residents with direct connectivity throughout the city. Additionally, the building is situated near major thoroughfares such as 79th Street and the Dan Ryan Expressway, offering easy access for commuters. Residents enjoy proximity to neighborhood retail, restaurants, grocery stores, parks, and other daily conveniences, making the property well-positioned within one of Chicago's most established South Side communities.
The property is comprised of eight (8) 1Bd/1Ba units and seven (7) 2Bd/1Ba units, providing a desirable mix that caters to both individual renters and small families. The units feature stainless steel appliances and hardwood floors throughout, creating an attractive living environment that appeals to today's renters. The combination of functional layouts, modern finishes, and strong tenant demand has contributed to the property's stable performance and provides investors with a solid foundation for future growth.
From day one, an investor will realize a 9.0% cap rate and a 13.25% cash return. Through continued rent growth and operational efficiencies, the asset has the potential to achieve a 13.08% pro forma cap rate and a 29.55% pro forma cash return, presenting a compelling opportunity for investors seeking both immediate yield and substantial upside potential.