14-Unit Apartment Building
REPOSITIONING & OPERATIONAL IMPROVEMENT POTENTIAL
Marketing description
For registration requirements and regulations, please review here or contact Alex Orth | 949-500-9409 | [email protected].
8159 S Throop Street presents a compelling value-add multifamily repositioning opportunity located in Chicago’s South Side / Auburn Gresham market. The property consists of a 14-unit apartment building totaling approximately 11,750 square feet on a 0.12-acre site. Built in 1925 and currently listed at 50% occupancy, the asset offers investors a clear path to create value through renovation, improved operations, and lease-up of vacant units.
Based on available listing information, the property is being offered through a non-contingent auction process, with a starting bid of $150,000 and bidding scheduled to begin July 13, 2026. The current partial occupancy provides potential in-place income while maintaining flexibility for investors to implement a phased repositioning plan and improve overall asset performance.
From an investment perspective, 8159 S Throop Street offers the opportunity to acquire a sizable 14-unit multifamily asset at a discounted basis with meaningful upside through stabilization. The existing building scale, established residential location, and partial occupancy profile create a practical foundation for a value-add strategy focused on renovation, lease-up, and long-term cash flow creation.
The property benefits from its location in Auburn Gresham near the 79th and 83rd Street corridors, with proximity to Gresham, Chatham, Beverly, Ashburn, and Greater Grand Crossing. Nearby neighborhood amenities include Foster Park, Dan Ryan Woods, Major Taylor Trail, and the Dr. Martin Luther King Jr. Roller Skating and Bowling Center. These South Side recreation and community assets help support renter demand and reinforce the property’s long-term residential repositioning potential.
- Non-Contingent
- Earnest Money Deposit: Greater of $20,000 or 10% of the Purchase Price
- Marketing Fee: 3% of the Winning Bid Amount
- $10,000 Participation Deposit
- Subject To Seller Approval
8159 S Throop St, Chicago, IL 60620
Investment highlights
- 14-UNIT VALUE-ADD OPPORTUNITY: Existing multifamily scale provides meaningful rental income potential upon stabilization
- PARTIAL OCCUPANCY WITH UPSIDE: Current 50% occupancy creates room to increase cash flow through renovation, leasing, and improved management
- SIGNIFICANT BASIS DISCOUNT: Offered at a low starting bid relative to replacement cost, supporting a value-oriented acquisition strategy
- REPOSITIONING & OPERATIONAL IMPROVEMENT POTENTIAL: Opportunity to address deferred maintenance, improve unit quality, and strengthen property operations
- AS-IS OFFERING WITH DUE DILIGENCE UPSIDE: Investors can underwrite the physical condition, occupancy, rent roll, and renovation scope based on their own investment strategy
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