619 E Groveland Park: 7-Unit Chicago Asset at 7.79% Cap Rate – $1.2M

Investment Opportunity Offered at $1,200,000, this 7-unit apartment building located in Chicago's prestigious, gated Groveland Park community offers a rare mix of historical significance and modern investment potential. Located in Bronzeville, this supply-constrained asset provides stable in-place income with a structured value-add plan to maximize long-term equity.

Property Highlights & Unit Mix

• Building Profile: Approximately 5,697 SF of living space constructed in the early 1900s, featuring timeless architecture and high tenant demand.

• Unit Configuration: (3) 2-bedroom + den/1-bath units and (4) 1-bedroom/1-bath units (including a garden level).

• Strategic Location: Situated in an exclusive, historic landmarked enclave providing a quiet, residential atmosphere just minutes from Downtown Chicago, Lake Shore Drive, and major employment hubs.

Financial Performance & Value-Add Upside

• Current Performance: Generating $127,800 in gross annual income with a strong NOI of $93,484.

• The Value-Add Plan: A targeted $50,000 renovation budget focuses on light interior enhancements and unit turns. This program is designed to drive rental income from $10,650/month to a projected $13,200/month.

• Pro Forma Projections: Upon stabilization, the pro forma NOI is estimated at $121,655, delivering an attractive 9.73% cap rate on the total cost basis.

Investment Thesis This asset is positioned for investors seeking a turnkey multifamily opportunity with immediate cash flow and clear, executable upside. With an efficient operating expense ratio and significant potential for rental growth, this Bronzeville property represents a compelling acquisition for those looking to capitalize on Chicago’s South Lakefront market.

Presented by Midwest Investment Advisors (KW Commercial / Keller Williams ONEChicago).