Rarely available 25-unit apartment building with 5 ground-floor retail storefronts located in the heart of Chicago's Woodlawn neighborhood-directly across from Jackson Park and just steps from the Obama Presidential Library. This mixed-use property is currently underperforming due to prolonged poor management and vacant commercial spaces, but it offers a clear path to stabilization and strong long-term cash flow. Currently, 60percent of the residential units are occupied, and many of the tenants have expressed willingness to remain, providing an immediate base of income for the next owner. Pro Forma NOI: $324,000 Asking Price: $2,500,000 Projected Cap Rate: ~12.96 Location Highlights: Directly across from Jackson Park, Around the corner from the Obama Presidential Center, Adjacent to Mount Carmel High School, Short walk to Lake Michigan and the lakefront trail. This is a rare investment opportunity in one of Chicago's most dynamic and rapidly appreciating neighborhoods. Ideal for value-add investors seeking to reposition a well-located asset and capitalize on significant upside potential in a high-growth corridor.
Based on information submitted to the MLS GRID as of 05/12/2025 04:59 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.
