Lender Driven Sale | Mixed Use in Chicago 8250-58 S Racine Ave
20 Apartment Units Online Auction Sale Chicago, IL 60620
Investment Highlights
- Three-story mixed-use, featuring 20 multifamily units and five retail units just south of Downtown Chicago presents substantial value-add potential.
- Investors can increase income by leasing vacant retail spaces and stabilizing multifamily occupancy.
- With no new multifamily developments since 2014, the area benefits from constrained supply, strong rent growth, and a dense renter population.
- Prime location on a high-visibility corner with over 14,000 daily vehicles, close to major transit hubs and the Dan Ryan Expressway.
- Auburn Gresham provides excellent public transit options ensuring seamless connectivity to Downtown Chicago and surrounding areas.
- Abundant amenities include parks, The Beverly Country Club, and national retailers such as Walmart, Lowe’s, Whole Foods, Dollar General, and Aldi.
Executive Summary
This corner property benefits from unparalleled exposure, with over 14,000 daily vehicles traveling along W 83rd Avenue. Situated just 20 minutes from Downtown Chicago, it is conveniently located near major transit options, including the Gresham Metra Station, the 79th Red Line L Station, and the Dan Ryan Expressway (Interstate 94). Located in the Auburn Gresham neighborhood, it offers robust public transportation infrastructure, including six bus lines, two Metra rail lines, and a subway connection. Nearby national retailers such as Walmart Supercenter, Lowe’s, Aldi, Dollar General, Whole Foods, and The Home Depot enhance the location’s appeal. The dense population—62% of whom are renters within a 1-mile radius—underscores the area’s rental demand.
Auburn Gresham, located 11 miles from Downtown Chicago, is a vibrant urban neighborhood surrounded by parks, schools, and local businesses. The area boasts strong community amenities, including Foster Park and the Dan Ryan Woods, providing abundant recreation options. With no new multifamily developments in the area since 2014, rental supply remains constrained, driving accelerated rent growth and reducing competition. Chicago’s thriving job market, highly educated population, and diverse economy further solidify its reputation as a hub for innovation and opportunity. With an annual consumer spending of $6 billion and a daily influx of 185,000 employees within a 5-mile radius, 8250-58 S Racine Avenue offers a unique opportunity to invest in a well-positioned property in a growing market. The current occupancy levels in the multifamily portion and the vacant retail units allow immediate operational enhancements and immense upside.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
$99,999
Asset Value
$99,999
12 Month Sales Volume
9.9%
Market Cap Rate
9.9%
Market Sale Price/Unit Change (YOY)
Market Sale Price per Unit
Chicago - IL USA
Market Cap Rate
Chicago - IL USA
Market Sale Price per Unit by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per Unit Distribution
Market Cap Rate Distribution
Property Facts
Amenities
Unit Amenities
- Kitchen
PROPERTY TAXES
Parcel Number | 20-32-131-035-0000 | Improvements Assessment | $198,400 CAD |
Land Assessment | $16,090 CAD | Total Assessment | $214,490 CAD |
zoning
Zoning Code | B3-2 |