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Welcome to your new Chicago property!
This classic mixed-use property is excellent for diversifying your real estate portfolio in two ways: it moves you outside of Detroit, and it houses 2 different types of tenants in its 16 residential units and 4 stores. E 79th is in a nice neighborhood with many shops next door and the Grand Crossing Park just a few blocks away.
This 1924-built property is located near 738-742 E 87th Pl and 7337 S Yale Ave, which will allow us to start enjoying economies of scale with our Chicago property management!
Finally, the property was stabilized and renovated about 2 years ago by the current owner when he bought it. However, he was unable to complete the renovation of all units, as some were rented with old leases. That’s why we’ve budgeted $25,000 in renovations to finish the remaining units, which should make for a comfortable upside in the coming months.
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