What is the asking price for Receivership Sale: Greater Chatham Portfolio | 97-Unit Multifamily & 17 Retail Storefronts?

Please use the contact form to get in touch with a broker and find out more about what this multifamily property has to offer.

What is the total size of Receivership Sale: Greater Chatham Portfolio | 97-Unit Multifamily & 17 Retail Storefronts?

The property has a total square footage of 81,168 SF.

When was this property built?

Receivership Sale: Greater Chatham Portfolio | 97-Unit Multifamily & 17 Retail Storefronts was built in 1924.

How many parking spaces are available at Receivership Sale: Greater Chatham Portfolio | 97-Unit Multifamily & 17 Retail Storefronts?

Parking information for the property isn't currently listed. However, other nearby parking options include Campus South Parking, located 2.78 miles away , and 83rd Street Metra Park & Ride, which is 2.80 miles away.

8249-59 S Evans Avenue, Chicago, IL 60619

For Sale Contact for pricing
Property Type Multi-Family
Property Size 81,168 SF
Units 97
Lot Size 1.32 Acre
Year Built 1924
Date Updated May 15, 2026

Description

Investment Highlights

Four-Building, 114-Unit Portfolio Sale: 97 residential and 17 retail units across 81,168 SF in Chatham and Greater Grand Crossing.
25.77% Occupied — Major Lease-Up Upside: Low occupancy creates a clear path to value through renovations, lease-up, and stabilization.
Mixed-Use with 17 Retail Storefronts: Ground-floor retail across three buildings adds income diversity and strengthens street presence.
1920s Vintage Brick on 1.32 Total Acres: Four buildings from 1924–1928 with B3-2 and RS-3 zoning supporting broad commercial flexibility.
Adjacent to I-94 and I-90 Expressways: Under half a mile to I-94 and 1.5 miles to I-90, with Metra at Avalon Park and Grand Crossing.
36,000+ Residents Within One-Mile Ring: Dense South Side population base with average household incomes exceeding $60,000 within one mile.

Offering Summary

RealINSIGHT Marketplace, in partnership with Frontline Real Estate Partners, is pleased to present the Greater Chatham Portfolio, a four-building, 114-unit mixed-use and multifamily portfolio offered through receivership sale in Chicago's Chatham and Greater Grand Crossing neighborhoods. The portfolio comprises 319-25 E 79th Street, 7431-47 S King Drive, 7908 S Prairie Avenue, and 8249-59 S Evans Avenue, totaling 81,168 SF across 1.32 acres with 97 residential units and 17 ground-floor retail storefronts. The residential unit mix includes 32 studios, 62 one-bedroom units, and three two-bedroom units, built between 1924 and 1928. Currently 25.77% occupied on the residential side, the portfolio presents significant value-add upside through unit renovations, lease-up, and operational efficiencies across all four assets. Positioned along established South Side commercial corridors near 79th Street, Cottage Grove Avenue, and the Dan Ryan Expressway, the properties benefit from strong neighborhood visibility and a dense surrounding population base exceeding 36,000 residents within one mile. Ongoing public and private investment along 79th Street and Cottage Grove Avenue continues to strengthen the submarket's appeal for value-add multifamily and mixed-use capital.

Auctioneer: Scott Bowers c/o Fisher Auction Company Inc. License: 040000273. Starting Bid: $1,000,000.