1. Illinois
2. Chicago
3. 8139 S Drexel Avenue

8139 S Drexel Avenue, Chicago, IL 60619

• 8,553 sqft

Property Description

Welcome to the New Drexel Estates A rare investment opportunity in the vibrant and historic Chatham neighborhood, this fully gutted and meticulously rehabbed six-unit multifamily property is poised to be a cornerstone in any investor's portfolio. This building offers a total of 18 bedrooms and 13 bathrooms across six spacious units, with each unit thoughtfully designed for modern living. Each three-bedroom, two-bathroom unit features a formal living room and dining room, brand-new appliances, and individual furnaces and hot water heaters to ensure tenant convenience and comfort. Additionally, all plumbing, electrical, and gas lines have been newly installed, providing peace of mind for future owners with minimal maintenance concerns. Six new AC units have been positioned on the roof, ensuring efficient cooling and reducing maintenance needs. This property presents a secure opportunity in one of Chicago's most promising neighborhoods, making it ideal for both long-term rental income and portfolio growth. Chatham's rental market is booming, with strong demand for three-bedroom, two-bathroom units. For investors seeking additional revenue, the basement offers an opportunity to add a 7th unit, further increasing rental income and long-term profitability. Additionally, the other side of the basement space could be used as an office or shared workspace, perfect for an on-site property manager, a co-working space for tenants, or even a tenant-exclusive lounge. The existing bathroom in the basement provides flexibility to meet a variety of potential uses, making this property even more versatile and attractive to prospective buyers and tenants. With coin-operated laundry and gated parking, this property provides additional cash flow opportunities. The Chatham neighborhood is known for its strong sense of community, cultural pride, and ongoing revitalization efforts. The property is conveniently located near essential amenities, including public transportation, schools, shopping, dining, and parks. Its strategic location enhances both tenant satisfaction and long-term appreciation potential. This classic Chicago six-flat represents a turnkey investment opportunity with modern finishes, updated mechanicals, and strong rental demand. Given its attractive pricing and income potential, this property is well-positioned for both cash flow and long-term equity growth. Whether you're a seasoned investor looking to expand your portfolio or a first-time commercial buyer, this property presents a win-win opportunity. The combination of new construction quality and vintage Chicago charm makes it an ideal asset in the growing Chatham market. Don't miss this chance to secure a high-yield multifamily property in Chatham!

Listing Status:

Active

Listing Office:

Keller Williams ONEChicago : 773-818-9150

Listing Agent:

Deonte Barbee : 773-818-9150

MLS ID:

12378404

Interior

• Basement: Unfinished
• A/C: Central Air
• Fireplace: Fireplaces: 6

Location

Lot

Utilities

Financial

This listing courtesy of Deonte Barbee, Keller Williams ONEChicago