735 E 88th Street - Six Unit Multi-Family Investment Opportunity

$500,000

735 E 88th St, Chicago, IL 60619

For Sale

Multifamily Garden Low Rise

Active

Last Updated: 10/15/2025

Details:

Cap Rate: 7.35%

NOI: $36,747

Building Size: 4,500 sqft

Lot Area: 0.1034 acres

Occupancy: 100%

Class: C

Units: 6

Year Built: 1899

Floors: 3

Offered by

Gene Hart

Investment Sales & Leasing Broker

33 Realty

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Description:

33 Realty is 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 and 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.

One half block west of Cottage Grove Avenue in the southern portion of the Chatham neighborhood of Chicago