$498,000
$2K PRICE DROP

Estimated payment $2,786/month

Total Views 4,939
-- Bed
-- Bath
4,236 Sq Ft
$118 Price per Sq Ft

About This Home

OWNER-FINANCING AVAILABLE. We are pleased to present for sale 735 E 88th, a six-unit multi-family investment property in the Chatham neighborhood of Chicago. The property is composed of six four-room 1-Bed/1-Bath apartments and a three-car garage that features updated electric, updated rear porch, central boiler heat (~8 years old), common hot water, newer windows, hardwood floors throughout, multiple units with updated kitchen and baths, and is located in a low-density pocket of south Chatham. 735 E 88th provides an excellent opportunity for an investor to re-lease the property to local subsidies that are currently offering 1300 to 1400 for one-bedroom residences with heat and hot water included. Upon stabilization, 735 E 88th has the potential to realize a 10-12 annual capitalization rate.

Listing Agent

Gene Hart

33 Realty License #475149185 Listed on: 10/16/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,743

Year Built

  • Built in 1897

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Block Foundation

Interior Spaces

  • 4,236 Sq Ft Home
  • 3-Story Property
  • Exterior Basement Entry

Utilities

  • Central Heating
  • Hot Water Heating System

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $1,000
  • Fuel Expense $4,800
  • Insurance Expense $3,600
  • Maintenance Expense $3,600
  • Manager Expense $4,446
  • Trash Expense $720
  • Water Sewer Expense $4,200
  • Operating Expense $33,726
  • Gross Income $93,600
  • Net Operating Income $58,794

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,743

Year Built

Built in 1897

Lot Details

0 Sq Ft Lot

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Exterior Entrance
  • Stories: 3
  • Year Built: 1897
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany
  • Estimated Age: Older
  • Actual Status: Active
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Possible Use: Condominium, Multi-Family
  • Refrigerators: 6
  • Ranges: 6
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Block
  • Frontage Type: City Street
  • Roof Structure: Flat
  • Misc Outside: Balcony/ies

Garage/Parking

  • Indoor Parking: 1-5 Spaces

Utilities

  • Electric: Fuses
  • Heat/Ventilation: Central Bldg Heat,Hot Water

Condo/Co-op/Association

  • Manager Expense: 4446
  • Unincorporated (Y/N): No
  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 720
  • Water Sewer Expenses: 4200

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 4500
  • Zoning: MULTI
  • Land Amenities: Lighting/Exterior,Sidewalks

Rental Info

  • Tenant Pays: Electricity, Other
  • Board Number: 8

Building Info

  • BuildingAreaTotal: 4236

Multi Family

  • Net Operating Income: 58794
  • Fuel Expense: 4800
  • Insurance Expense: 3600
  • ElectricExpense: 1000
  • GrossIncome: 93600
  • Maintenance Expense: 3600
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 33726
  • Type Multi-Family: Corridor-Exterior Entrance

Tax Info

  • Tax Annual Amount: 2743
  • Tax Year: 2023

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,743 $24,400 $3,375 $21,025
2024 $2,743 $24,400 $3,375 $21,025
2023 $2,674 $13,000 $5,625 $7,375
2022 $2,674 $13,000 $5,625 $7,375
2021 $2,614 $13,000 $5,625 $7,375
2020 $3,718 $16,692 $4,050 $12,642
2019 $3,811 $18,969 $4,050 $14,919
2018 $3,747 $18,969 $4,050 $14,919
2017 $4,316 $20,050 $3,600 $16,450
2016 $4,016 $20,050 $3,600 $16,450
2015 $3,674 $20,050 $3,600 $16,450
2014 $2,917 $15,720 $3,150 $12,570
2013 $2,859 $15,720 $3,150 $12,570
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/27/2026 02/27/26 Price Changed $498,000 -0.1% $118 / Sq Ft
01/16/2026 01/16/26 Price Changed $498,500 -0.1% $118 / Sq Ft
11/12/2025 11/12/25 Price Changed $499,000 -0.1% $118 / Sq Ft
11/04/2025 11/04/25 Price Changed $499,500 -0.1% $118 / Sq Ft
10/16/2025 10/16/25 For Sale $500,000 -- $118 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Source: Midwest Real Estate Data (MRED)

MLS Number: 12486593

Midwest Real Estate Data (MRED)

APN: 25032110120000

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