9826 Sayre Ave Chicago Ridge, IL 60415
Estimated payment $16,935/month
About This Home
Fully Occupied 18-Unit Multifamily Asset in Chicago Ridge, IL is a stabilized and well-maintained 18-unit multifamily property located in the strong rental submarket of Chicago Ridge, just 14 miles southwest of downtown Chicago. With a mix of eight one-bedroom and ten two-bedroom apartments, this low-rise garden-style asset delivers both immediate cash flow and long-term upside. This turnkey investment features: Recent capital expenditures include a refresh renovation of six units, sealcoating and striping of the parking lot, and an HD Camera Security System. Attractive Unit Features like open layouts, private patios/balconies, exposed brick interiors, baseboard heating, and AC sleeve units Amenities such as on-site laundry, storage spaces, 24 parking spaces, HD security video surveillance, and a monitored fire alarm system Positioned on nearly half an acre, the property boasts 24,831 SF of building area and 16,466 SF of leasable space. Residents enjoy quiet residential surroundings with convenient access to major routes like I-294, Route 20, and Route 43. The location also offers proximity to the Metra station and regional amenities, including Chicago Ridge Mall, dining, and retail options. Current rents are below market, presenting a strong value-add opportunity to increase income through light unit upgrades and lease turnovers. With limited new supply in the area and sustained tenant demand, this asset is well-positioned for future growth. Whether looking for a stable income-producing asset or a property with upside through rental repositioning, 9826 Sayre delivers both.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $40,851
Year Built
- Built in 1972
Lot Details
- 0.45 Acre Lot
Home Design
- Brick Exterior Construction
Interior Spaces
- 14,500 Sq Ft Home
- 3-Story Property
Utilities
- Baseboard Heating
- Hot Water Heating System
Community Details
Overview
- 18 Units
Building Details
- Electric Expense $2,010
- Fuel Expense $6,073
- Insurance Expense $7,413
- Maintenance Expense $12,600
- Manager Expense $11,388
- Other Expense $10,950
- Trash Expense $6,493
- Water Sewer Expense $12,001
- Operating Expense $109,128
- Gross Income $279,984
- Net Operating Income $171,703
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/24/2025 06/24/25 | For Sale | $2,450,000 | +49.4% | $169 / Sq Ft |
| 04/27/2023 04/27/23 | Sold | $1,640,000 | -11.3% | $113 / Sq Ft |
| 03/01/2023 03/01/23 | Pending | -- | -- | -- |
| 07/08/2022 07/08/22 | Price Changed | $1,849,000 | -2.2% | $128 / Sq Ft |
| 05/02/2022 05/02/22 | For Sale | $1,890,000 | 0.0% | $130 / Sq Ft |
| 01/16/2016 01/16/16 | Rented | $999 | 0.0% | -- |
| 01/09/2016 01/09/16 | Under Contract | -- | -- | -- |
| 01/05/2016 01/05/16 | For Rent | $999 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12401966
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