For Sale $765,000
Property Type Multi-Family
Property Size 1 SF
Units 8
Date Updated May 10, 2024

Situated approximately 13 miles southwest of downtown Chicago, Summit spans a modest area of just over two square miles, flanked by McCook to the west, Lyons to the north, and Bedford Park to the south. Summit boasts a diverse housing landscape, featuring a blend of single-family residences, townhouses, and apartment complexes. With close proximity to the Summit Metra Station as well as numerous expressways, residents of Summit have direct and convenient access to Chicago. In addition, it's within close proximity to Chicago Midway International Airport, which provides easy access to both domestic and international destinations. Summit offers a nice balance between suburban comfort and urban access, with a strong sense of community and plenty of nearby amenities.Essex Realty Group, Inc. has been exclusively engaged to market for sale 6100 S Harlem Avenue, an 8-unit apartment building situated in the suburb of Summit, IL. The Subject Property consists of eight (8) 1-bedroom, 1-bathroom apartments. Additionally, the property includes eight (8) exterior surface parking spaces. At the listed price, a new owner can achieve an appealing 6.63% capitalization rate on current income, with the potential for additional upside. Current rents are below market rates presenting an opportunity for an investor to increase rental income by almost 20%, resulting in over a 30% increase in Net Operating Income. The property is situated 13 miles southwest of Downtown Chicago and only 1.2 miles from the Summit Metra station. Its favorable location allows residents easy access to public transportation, as well as nearby shops and restaurants.

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Highlights

Opportunity to Increase Rents By $100-$200 Per Month
Located Near Summit Metra Station, Restaurants & Shops
Six (6) of Eight (8) Units Fully Rehabbed
All Electric Building, Tenant Paid Heat
Eight (8) Surface Parking Spaces

Contacts

Anthony Citriglia

Essex Realty Group

(773) 305-4844

Location

Getting Around

Walk Score ®
70/100 Very Walkable
Bike Score ®
53/100 Bikeable

Map
Street

City Summit, IL
Neighborhood Summit Argo
Zip Code 60501
Market Chicago

Points of Interest

Summit

1.08 miles
Midway

3.30 miles
Riverside

3.36 miles
Hollywood

3.43 miles
Harlem Avenue

3.52 miles
Brookfield

3.57 miles
Berwyn

3.66 miles
LaVergne

3.89 miles
Congress Park

3.91 miles
Pulaski

4.18 miles

Shell

0.21 miles
Thorntons

0.23 miles
Speedway

0.37 miles
BP

0.59 miles
Citgo

0.82 miles
BP

0.93 miles
Shell

0.96 miles
Good To Go

1.12 miles
Shell

1.16 miles
Shell

1.24 miles

Midway Parking

2.02 miles
Midway Airport Rental Car Facility

2.73 miles
Midway Airport Cell Phone Lot

3.07 miles
Midway Airport Cell Phone Lot

3.07 miles
Midway Airport Parking Garage

3.21 miles
Midway Park & Ride

3.22 miles
Taxi Staging Area

3.22 miles
Limo Staging Area

3.27 miles
Overflow Lot

3.78 miles
South Lot

3.79 miles

Hampton Inn & Suites Bridgeview Chicago

1.01 miles
Super 8 by Wyndham Bridgeview/Chicago Area

2.46 miles
Hyatt Place Chicago/Midway Airport

2.87 miles
Hilton Garden Inn Chicago/Midway Airport

2.88 miles
Residence Inn Chicago Midway Airport

2.92 miles
Holiday Inn Chicago - Midway Airport

2.95 miles
Marriott Chicago Midway Airport

2.97 miles
Courtyard Chicago Midway Airport

3.03 miles
Fairfield Inn & Suites Chicago Midway Airport

3.04 miles
Holiday Inn Express Chicago Midway Airport

3.04 miles

Dunkin'

0.08 miles
Pizza Hut Delivery

0.30 miles
Jimmy John's

0.31 miles
Beefy's

0.42 miles
Popeyes

0.48 miles
Potbelly

0.50 miles
Dunkin'

0.61 miles
Taco Burrito King

0.64 miles
Little Caesars

0.64 miles
Portillo's

0.69 miles

Graves Elementary & Heritage Middle Schools

0.22 miles
Saint Blase School

0.32 miles
John C. Dore Elementary School

0.47 miles
Saint Rene School

0.47 miles
Argo Community High School

0.50 miles
Saint Joseph School

0.57 miles
Zion School

0.57 miles
Wharton School

0.60 miles
Walsh Elementary School

0.67 miles
Blair Early Childhood Center

0.67 miles

Lyon Cub Day Nursery

2.44 miles
Little People Montessori Academy

2.90 miles
Alphabet Learning Center

3.70 miles
Alphabet Learning Center

4.14 miles
Montessori Children's Community

4.19 miles
Little People's Country

4.40 miles
Happy Days Child Care Center

4.47 miles
Montessori Children's Place

4.62 miles
Peter Cottontail Day Nursery

5.48 miles
Brighton Park Early Learning Center

5.73 miles

Frequently Asked Questions

What is the lease rate for 6100 South Harlem Avenue?

Rental asking rate at 6100 South Harlem Avenue is $382,500.00/YR.

What is the total square footage of 6100 South Harlem Avenue?

6100 South Harlem Avenue totals 1 square feet.

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