22-Property Portfolio
Multifamily | 311 Units
Marketing description
Colliers is pleased to present a multifamily opportunity to acquire a 22-property portfolio located across nine established Chicago South Side communities, including Ashburn, Beverly, East Side, Hegewisch, Morgan Park, Scottsdale, West Elsdon, West Lawn, and Wrightwood. The Portfolio operates as affordable workforce housing, with all properties located within designated Mobility Zones and supported in part by HUD-backed rental income programs. The Portfolio totals 311 units and is currently approximately 95% occupied, with weighted average in-place rents of approximately $1,800 per unit, based on current operations. The Portfolio consists of 21 multifamily buildings and one single-family residence converted to multifamily use, totaling 308 residential units and three commercial units. Property sizes average 14 units per building, with individual assets ranging from 6 to 33 units, providing diversification across building scale and unit configurations. Constructed between 1917 and 1986, the buildings represent a range of architectural vintages while maintaining a consistent brick exterior construction across the portfolio. Building stories range from two- to five-story communities, along with one single-story bungalow residence, offering a cohesive physical profile well-aligned with the surrounding neighborhood housing stock.
The Midway Corridor Cluster consists of four multifamily properties located just east of Chicago Midway International Airport within the West Elsdon and West Lawn neighborhoods on Chicago’s Southwest Side. The properties were constructed between 1958 and 1986 and range in size from 6 to 12 units, offering a collection of smaller-scale residential communities well-positioned within established neighborhood settings.
The cluster benefits from proximity to key neighborhood and regional amenities, including Marquette Park and Marquette Park Golf Course, Lindblom Math and Science Academy, St. Bernard Hospital, and major retail destinations such as Ford City Mall. Residents also enjoy convenient access to a broad mix of dining options along nearby commercial corridors.
West Elsdon and West Lawn are adjacent community areas that share similar residential characteristics and connectivity. West Elsden is a compact, predominantly residential neighborhood known for its strong community identity and proximity to Midway Airport, while West Lawn is a larger, diverse neighborhood anchored by Marquette Park and surrounding residential streets. Together, the neighborhoods offer a stable, family-oriented environment with convenient access to employment centers, transportation infrastructure, and everyday services.
From a locational standpoint, the Midway Corridor Cluster benefits from clearly defined neighborhood boundaries and transportation access. West Elsden is generally bounded by CTA rail lines to the north and east, W 59th Street to the south, and Midway Airport to the west. West Lawn lies directly south of West Elsden, bounded by W 59th Street to the north, CTA rail lines and Central Park Avenue to the east, rail infrastructure and the Ford City area to the south, and Cicero Avenue and Midway Airport to the west.
Collectively, the Midway Corridor Cluster represents a concentration of infill, neighborhood oriented multifamily housing supported by airport-area employment, established residential demand, and access to parks, schools, healthcare, and retail amenities.
Investment highlights
- Mobility zone–eligible affordable housing portfolio All properties are located within designated Mobility Zones and operate as affordable workforce housing, with a significant portion of rental income supported by HUD-backed subsidy programs, contributing to stable cash flow and durable occupancy.
- Neighborhood-clustered portfolio structure The Portfolio is intentionally organized into four distinct neighborhood clusters: Midway Corridor, Southwest Chicago, Core Portfolio (Beverly / Morgan Park), and Southeast Chicago, providing geographic concentration while maintaining operational clarity and execution efficiency.
- Established south side neighborhood exposure Properties are located across nine established Chicago South Side communities, offering investors exposure to infill residential neighborhoods characterized by long-standing housing stock, defined community boundaries, and durable renter demand.
- Stable in-place operations The Portfolio totals 311 units and is currently approximately 95% occupied, with weighted average in-place rents of approximately $1,800 per unit, reflecting stable operating performance across a diversified asset base.
- Workforce housing demand profile The Portfolio is positioned to serve household-oriented renter demand, supported by larger average household sizes, family-focused neighborhoods, and proximity to schools, parks, healthcare, retail, and employment centers.
- Limited new supply in infill submarkets Chicago’s constrained development environment (driven by limited land availability, high barriers to entry, and disciplined construction) supports long-term occupancy stability within the Portfolio’s infill Southwest and Southeast submarkets.
- Diversified building scale and vintage The Portfolio includes 22 properties ranging from 6 to 33 units, constructed between 1917 and 1986, providing diversification across building size, architectural vintage, and unit configurations while maintaining a consistent brick construction profile.
- Connectivity to employment and transportation infrastructure The Portfolio benefits from proximity to Chicago Midway International Airport, regional highway corridors, CTA and Metra transit lines, and major employment nodes across the Chicago metropolitan area.
- 5338 S Kenneth Ave | Chicago, Illinois
- Built in 1966, 5338 S Kenneth Avenue is an 8-unit multifamily community offering one-bedroom, one bathroom residences. The property features average in place rents of $1,476 and is currently 88% occupied, with 7 of 8 units leased.
- 4444-50 W 59th St | Chicago, Illinois
- Built in 1958, 4444-50 W 59th Street is a 10-unit multifamily community offering one-, two- and three-bedroom, one bathroom residences. The property features average in place rents of $1,611 and is currently 100% occupied. 8 of the 10 units are two-bedroom apartments.
- 6301 S Keeler Avenue | Chicago, Illinois
- Built in 1986, 6301 S Keeler Avenue is a 6-unit multifamily community offering one-, and two-bedroom, one bathroom residences. The property features average in place rents of $1,858 and is currently 100% occupied. 5 of the 6 units are two-bedroom apartments.
- 3939 W 63rd Street | Chicago, Illinois
- Built in 1966, 3939 W 63rd Street is a 12-unit multifamily community offering one-, and two-bedroom, one bathroom residences. The property features average in-place rents of $1,737 and is currently 92% occupied. 8 of the 12 units are two-bedroom apartments.
- 4634-4658 W 79th Street | Chicago, Illinois
- Built in 1968, 4634-4658 W 79th Street is a 33-unit multifamily community offering one-, and two-bedroom, one-bathroom residences. The property features average in-place rents of $1,917 and is currently 100% occupied. 28 of the 33 units are two-bedroom apartments.
- 7812-7806 S Troy Street | Chicago, Illinois
- Built in 1968, 7812-7806 S Troy Street is an 18-unit multifamily community offering one-, and two-bedroom, one bathroom residences. The property features average in-place rents of $1,698 and is currently 94% occupied. 14 of the 18 units are one-bedroom apartments.
- 7915-31 S Kedzie Avenue | Chicago, Illinois
- Built in 1964, 7915-31 S Kedzie Avenue is a 22-unit multifamily community offering one-, and two-bedroom, one-bathroom residences. The property features average in-place rents of $1,938 and is currently 95% occupied. 18 of the 22 units are one-bedroom apartments.
- 8124 S Western Avenue | Chicago, Illinois
- Built in 1961, 8124 S Western Avenue is a 12-unit multifamily community offering studio, and one-bedroom, one-bathroom residences. The property features average in-place rents of $1,316 and is currently 92% occupied. 11 of the 12 units are one-bedroom apartments.
- 1528 W 99th Street | Chicago, Illinois
- Built in 1959, 1528 W 99th Street is a 12-unit multifamily community offering one- and two-bedroom, one-bathroom residences. The property features average in-place rents of $1,799 and is currently 100% occupied. 8 of the 12 units are two-bedroom apartments.
- 1514-1520 W 99th Street | Chicago, Illinois
- Built in 1959, 1514-1520 W 99th Street is a 20-unit multifamily community offering one- and two-bedroom, one-bathroom residences. The property features average in-place rents of $1,670 and is currently 100% occupied. 13 of 20 units are two-bedroom apartments.
- 10320-28 S Walden Parkway | Chicago, Illinois
- Built in 1944, 10320-28 S Walden Parkway is a 26-unit multifamily community offering one- and two-bedroom, one-bathroom residences. The property features average in-place rents of $1,746 and is currently 88% occupied. 18 of 26 units are one-bedroom apartments.
- 10330 S Walden Parkway | Chicago, Illinois
- Built in 1917, 10330 S Walden Parkway is a single-family home turned multifamily community offering one unit of 5 bedrooms and 2.5 bathrooms. The property is adjacent to 10320-28 S Walden Parkway, and the building size is 1,714 square feet (on a lot size of 8,700 square feet). It is 100% occupied.
- 10360 S Walden Parkway | Chicago, Illinois
- Built in 1966, 10360 S Walden Parkway is an 18-unit multifamily community offering one-bedroom apartments with 1 bathroom, and two-bedroom apartments with 1 or 1.5 bathrooms. The property features average in-place rents of $1,915. The community is currently 94% occupied, with the 1 vacancy in a one-bedroom unit.
- 10437 S Hale Avenue | Chicago, Illinois
- Built in 1960, 10437 S Hale Avenue is an 11-unit multifamily community offering one- and two-bedroom, one bathroom residences, and three-bedroom with 1.5 bathroom apartments. The property features average in-place rents of $1,861 and is 100% occupied. 9 out of 11 units are two-bedroom apartments.
- 10511 S Hale Avenue | Chicago, Illinois
- Built in 1959, 10511 S Hale Avenue is a 12-unit multifamily community offering one- and two-bedroom, one bathroom residences. The property features average in-place rents of $1,746. The community is currently 92% occupied, with the 1 vacancy in a one-bedroom unit.
- 10604 S Walden Parkway| Chicago, Illinois
- Built in 1965, 10604 S Walden Parkway is an 18-unit multifamily community offering seventeen one-bedroom, one bathroom residences, as well as one unit with four bedrooms and 2 baths. The property features average inplace rents of $1,689 and is 100% occupied.
- 2324 W 111th Street | Chicago, Illinois
- Built in 1931, 2324 W 111th Street is a 17-unit multifamily community offering 16 residential units and 1 commercial property. The community is mostly comprised of one bedroom, one bathroom residences (11 units). It also offers 3 studios (1 bathroom), and 2 three-bedroom units (one with 1.5 baths and one with 2 baths). The property features average in-place rents of $1,768 and is 100% occupied. The commercial unit’s rent is $5,000/month.
- 2253-59 W 111th Street | Chicago, Illinois
- Built in 1928, 2253-59 W 111th Street is a 25-unit multifamily community 7 two-bedroom units with 1 bath, 11 two-bedroom units with 2 baths, and 7 three-bedroom units with 2 baths. The property features average in place rents of $2,107 and is 88% occupied. There is full occupancy of the two-bedroom/two-bath units.
- 1431 W 108th Street | Chicago, Illinois
- 1431 W 108th Street is an 8-unit multifamily community offering three- and four-bedroom, two bathroom residences. The property features average in-place rents of $2,457 and is 88% occupied. There is an equal split between three-bedroom and four-bedroom apartments.
- 11456 S Hale Avenue | Chicago, Illinois
- Built in 1931, 11456 S Hale Avenue is a 6-unit multifamily community that offers one-bedroom, one-bathroom residences. The property features average in-place rents of $1,702 and is 100% occupied.
- 10401 S Ewing Avenue | Chicago, Illinois
- Built in 1973, 10401 S Ewing Avenue is a 10-unit multifamily community offering eight one- and two-bedroom, one bathroom residences, as well as two commercial units. The property features average in-place rents of $1,457 and is currently 90% occupied. 6 of the 8 units are two-bedroom apartments. Average commercial unit rent is $900.
- 13447 S Houston Avenue | Chicago, Illinois
- Built in 1919, 13447 S Houston Avenue is a 6-unit multifamily community offering two- and three-bedroom, one bathroom residences. The property features average in-place rents of $2,362 and is currently 100% occupied. 5 of the 6 units are three-bedroom apartments.
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