Seller's Agent in 2025
Tony Hardy
Keller Williams ONEChicago
(773) 575-6082
3 in this area
51 Total Sales
8321 S Drexel Ave Chicago, IL 60619
Grand Crossing Neighborhood
--
Bed
--
Bath
--
Sq Ft
1926
Built
About This Home
As of May 2025Property Overview: Units: 12 two-bedroom, one-bathroom units HVAC: Individually metered for heating and cooling HUD Fair Market Rent (2024): $1,410 for the 60619 zip code Investment Potential: Pro Forma Net Operating Income: $128,885, representing a cap rate of 10.97% and a GRM of 6.28 Neighborhood Insights: Chatham is renowned for its stable residential character and vibrant local economy. This community is experiencing economic growth and increased housing demand, making it an attractive area for real estate investment. The property's location within this thriving neighborhood enhances its appeal and potential for long-term appreciation. Detailed Unit Breakdown: Unit Mix: 12 two-bedroom/one-bathroom units Economic Performance: Purchase Price: $1,175,000 Current Cap Rate: 8.72% This strong cap rate indicates a favorable yield compared to typical residential investment properties in the area. Current Net Operating Income (NOI): $102,475 annually Reflects efficient management and strong profitability. Current Gross Rent Multiplier (GRM): 7.22 Demonstrates significant rental income potential relative to market value. The property at 8321 S. Drexel Ave. represents a unique and promising investment opportunity in the Chicago real estate market. With a strategic location in the growing Chatham neighborhood and solid financial performance, this asset offers an ideal blend of risk mitigation and potential for high returns. The individually metered HVAC systems enhance tenant satisfaction and operational efficiency. This investment is an excellent choice for investors focused on long-term wealth accumulation in the multifamily housing sector.
Last Agent to Sell the Property
Keller Williams ONEChicago License #475139834 Listed on: 07/23/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,979
Year Built
- Built in 1926
Parking
- 6 to 12 Parking Spaces
Additional Features
- 3-Story Property
- Central Heating
Community Details
- 12 Units
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/17/2025 05/17/25 | Sold | $1,160,725 | 0.0% | -- |
| 04/01/2025 04/01/25 | Pending | -- | -- | -- |
| 03/31/2025 03/31/25 | Off Market | $1,160,725 | -- | -- |
| 02/10/2025 02/10/25 | Pending | -- | -- | -- |
| 01/28/2025 01/28/25 | For Sale | $1,175,000 | +1.2% | -- |
| 01/23/2025 01/23/25 | Off Market | $1,160,725 | -- | -- |
| 10/19/2024 10/19/24 | Pending | -- | -- | -- |
| 07/24/2024 07/24/24 | For Sale | $1,175,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 | $10,979 | $75,201 | $14,648 | $60,553 |
| 2024 | $10,979 | $75,201 | $14,648 | $60,553 |
| 2023 | $10,702 | $52,034 | $14,175 | $37,859 |
| 2022 | $10,702 | $52,034 | $14,175 | $37,859 |
| 2021 | $10,464 | $52,034 | $14,175 | $37,859 |
| 2020 | $14,997 | $67,320 | $14,175 | $53,145 |
| 2019 | $13,525 | $67,320 | $14,175 | $53,145 |
| 2018 | $10,410 | $52,701 | $14,175 | $38,526 |
| 2017 | $10,929 | $50,769 | $11,340 | $39,429 |
| 2016 | $7,871 | $39,297 | $11,340 | $27,957 |
| 2015 | $6,436 | $35,120 | $11,340 | $23,780 |
| 2014 | $10,864 | $58,552 | $7,087 | $51,465 |
| 2013 | $10,649 | $58,552 | $7,087 | $51,465 |
Source: Public Records
Agents Affiliated with this Home
-
Tony Hardy
-
Travis Montgomery
Seller Co-Listing Agent in 2025
Travis Montgomery
Keller Williams ONEChicago
(773) 946-8816
3 in this area
34 Total Sales
-
Bilal Hussain
B
Buyer's Agent in 2025
Bilal Hussain
Ellsbury Group LLC
(224) 616-9773
1 in this area
46 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12119410
APN: 20353020060000
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