8138 South Calumet Avenue

Located in the southeast corner of Chicago, Chatham is one of the city's 77 community areas and has a population of over 33,00 residents. The subject property sits between the Chatham and Greater Grand Crossing neighborhoods of Chicago, in a submarket named East Chatham. From the subject property are the Metra Electric commuter rail line 0.5 miles [10 min walk] and a CTA Red Line station at 79th Street .8 miles [17 min walk] making it an ideal location for commuters traveling to surrounding neighborhoods and downtown to the LOOP. Major highways also pass through the area including the Dan Ryan Expressway and the Chicago Skyway Toll Road. Grocery Stores, Pharmacies, and Schools surround the subject property and continue down the retail corridor of 79th street. The ease of transit, access to multiple route, and accessibility to shops and markets make this an ideal neighborhood to reside in.Essex Realty Group, LLC is pleased to present 8138 S. Calumet Avenue, a six-unit multifamily investment opportunity located on a quiet residential block in Chicago's Chatham neighborhood. Offered for the first time in decades by a long-term owner, the property consists of six spacious two-bedroom apartments with below-market rents, providing investors with immediate value-add potential through future rent growth. The building has been exceptionally well cared for over the years and has benefited from numerous capital improvements, including upgraded electrical service, recent tuckpointing, and a new boiler, significantly reducing near-term capital expenditure requirements. Beyond the in-place rental upside, investors have multiple opportunities to further enhance value, including the potential to convert two of the oversized units into three-bedroom layouts, add a garden apartment (subject to zoning and city approval), and install on-site laundry facilities to generate additional ancillary income. Combining stable tenancy, below-market rents, strong physical ownership, and multiple value-add opportunities, 8138 S. Calumet Avenue presents a rare opportunity to acquire a well-maintained asset with meaningful upside in one of Chicago's established South Side neighborhoods.