6820 S PERRY AVE, Chicago, IL

About this property

Executive Summary Taty Management, LLC presents a 19-unit multifamily investment opportunity located in the Greater Grand Crossing neighborhood of Chicago. The property offers strong in-place cash flow with a 10.28 % cap rate, supported by 100% occupancy and a stable tenant base. Current rents average approximately $1,091 per unit, providing a clear opportunity to increase revenue through a mark-to-market strategy. Comparable units in the surrounding market achieve rents between $1,250 and $1,500+, depending on condition. This asset represents an opportunity to acquire a cash-flowing property at an attractive basis of $71,000 per unit, with additional upside through gradual rent increases and operational efficiencies. HIGHLIGHTS - High-yield investment with 9.4% in-place cap rate - Stabilized asset with 100% occupancy - Strong in-place cash flow (~$140K NOI) - Below-market rents with ~20% upside IMPROVMENTS: - newer boiler , updated hot water tanks, copper plumbing and electric system - repaired main sewer system - new spot tuck pointing, VALUE-ADD OPPORTUNITY - The property is currently operating below market rents, presenting a clear opportunity for revenue growth. Current vs Market Rents - Average Current Rent: ~$1,100/unit - Estimated Market Rent: $1,250–$1,600/unit - Potential Increase: 20–27% Upside Strategy - Increase rents through turnover + light upgrades Results - Increased NOI - Higher property valuation - Strong cash-on-cash returns

Property highlights

Building size

35,232 SF

Lot size

0.2 acres

Year built

1926

Zoning

Residential,

County

Cook,

Map position is based on listing coordinates. Confirm access, entrances, and boundaries with the listing team; the marker is not a parcel survey.