2935 S Throop St, Chicago, IL, 60608

Highlights

• Prime Bridgeport Location
• Large Corner Building
• Numerous Updates Completed
• Long Term Tenants
• Short Walk to CTA Orange Line
• Easy Access to I-55 & I-90
• Steps to Palmisano Park
• Full Basement

Description

Large 7-unit brick apartment building at the coveted corner of Throop Street and 29th Street, offering a rare investment opportunity. This well-maintained property features spacious 1, 2, and 3-bedroom units, recently updated to attract quality tenants while retaining a few long-term residents for stability. With an annual rental income of $110,280, the below-market rents present significant upside potential for immediate revenue growth through strategic increases. Tenant-paid utilities and low operating expenses ensure strong cash flow, making this a low-maintenance, high-yield asset.

The building’s financial appeal is further enhanced by a successful 2024 tax appeal, resulting in a reduced property tax burden. Its corner location provides excellent visibility and accessibility, ideal for sustained tenant demand. With modern updates already in place and minimal upkeep required, this property is positioned for both short-term gains and long-term appreciation. Don’t miss the chance to acquire a turnkey multifamily investment with immediate value-add potential in a thriving rental market.

Strategically located at the corner of Throop Street and 29th Street in Chicago’s vibrant Bridgeport neighborhood, this 7-unit apartment building boasts exceptional accessibility and lifestyle appeal. Just a short walk from the CTA Orange Line’s Halsted Station, residents enjoy seamless rapid transit to Midway Airport and downtown Chicago’s Loop. Proximity to major expressways, including I-90/94 and I-55, ensures quick commutes for drivers, connecting to the broader Chicagoland area with ease. The bustling retail corridors along Halsted and Morgan Streets, less than a mile away, offer an array of dining, shopping, and entertainment options, from local eateries to trendy boutiques, enhancing tenant desirability.

Nature and recreation are steps away with McGuane Park and Palmisano Park, both within a few blocks, providing green spaces, sports facilities, and scenic views for outdoor enthusiasts. The property’s corner lot placement maximizes visibility and accessibility, while its location in a thriving, walkable community near cultural hotspots like the Zhou B Art Center adds to its allure. With tenant-paid utilities and low maintenance costs, this investment property is perfectly positioned to capitalize on Bridgeport’s growing demand, blending urban convenience with neighborhood charm.

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