Listed by EGP Realty, Chicago Real Estate Authority
$600,000
2008 S Pulaski Road
Details
APN 16224200380000
Property Type Multifamily
Sub Type Apartment Building
NOI $46,740
Year Built 1904
Acreage 0.140
Multifamily
Marketing description
Well-located mixed-use building on high-traffic Pulaski Road - a hard corner with steady visibility in North Lawndale - offering three residential units above ground-floor commercial space. Excellent access to public transit, the Illinois Medical District, and the I-290 corridor, in a submarket drawing continued public and private investment along the Pulaski and Ogden corridors. The property suits an investor seeking diversified income or an owner-operator who wants to activate the ground-floor commercial space while leasing the units above. Strong value-add potential for a buyer who restores the storefront to commercial use or pursues the appropriate approvals for its current configuration. Unit configuration / use disclosure: Building comprises three residential units plus a ground-floor commercial unit (four total). The ground-floor commercial space is currently being used residentially, which is a non-conforming use. Buyer to independently verify unit count, zoning, permitted use, and legal occupancy with the City of Chicago and to satisfy itself as to any steps required to conform or continue the current use. Tax advantage: The 2025 assessment was successfully appealed at the Cook County Board of Review, reducing the assessed value from 48,063 to 32,013 - roughly a 33 pct reduction and an estimated annual savings of about $3,100. Post-appeal real estate taxes are projected in the ~$6,100-$6,400 range, meaningfully improving NOI and buyer returns. A rare mixed-use hold in an appreciating West Side submarket. Financials and lease summary available on request.
Listing Contacts
Listed by EGP Realty, Chicago Real Estate Authority
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$46,740.00
$3,895.00/mo
Valuation Metrics
0
DSCR
7.79%
Cap Rate
7.79%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Is there information that looks off?
