Ad #7297894
MLS #12573303
Pleased to present 619 E. Groveland Park, a 7-unit multifamily
619 E Groveland Park, Chicago, Illinois, 60653
$1,200,000
10Beds
11Baths
0Sqft
0Acres
About this property
Pleased to present 619 E. Groveland Park, a 7-unit multifamily investment located within the gated, landmarked Groveland Park community in Chicago's Bronzeville neighborhood. Offered at a list price of $1,200,000, the property provides an opportunity to acquire an apartment asset in one of Chicago's most architecturally significant and supply-constrained submarkets, with a light value-add plan supported by a $50,000 renovation budget. Originally constructed in the early 1900s and thoughtfully revitalized, the property encompasses approximately 5,697 square feet across a unit mix of (3) 2-bedroom + den / 1-bath units and (4) 1-bedroom / 1-bath units, plus a garden unit. Unit sizes generally range from approximately 525-950 SF (with the garden at ~650 SF), featuring efficient layouts and individual unit appeal that support operational stability and long-term tenant retention. In-place financial performance is strong and stabilized. The asset is currently generating $127,800 in gross annual rental income ($10,650/month). With a 4% vacancy assumption (-$5,152) and $1,008 in annual laundry income, effective gross income totals approximately $123,656. Operating expenses are efficiently managed at approximately $30,171 (a 24% expense ratio), resulting in a current NOI of $93,484. Value-add upside is clear and executable via a light renovation program. A $50,000 renovation budget (light interior enhancements and unit turns) supports mark-to-market rent growth from $10,650/month to $13,200/month (gross annual rent from $127,800 to $158,400). Under the pro forma scenario (still assuming 4% vacancy and $1,008 in laundry income), effective gross income increases to approximately $153,032, with total expenses of approximately $31,377 (a 21% expense ratio), producing a pro forma NOI of $121,655. On a total cost basis of $1,250,000 (purchase price + $50,000 renovation), this equates to an estimated 9.73% pro forma cap rate and a 7.89 GRM on total basis. At the offered price, the asset is positioned at approximately $211/SF and $171,429/unit, aligning well with boutique multifamily pricing in Bronzeville and the broader South Lakefront. A sample financing scenario utilizing 80% LTV ($960,000 loan), 6.00% interest, and 30-year amortization results in an estimated annual debt service of approximately $69,068 and a 1.35x DSCR under the pro forma. This structure generates projected net cash flow of $24,416 in-place (10.17% cash-on-cash on $240,000 equity) and $52,587 post-renovation (18.13% cash-on-cash on $290,000 total equity, inclusive of the $50,000 renovation budget). Beyond the numbers, 619 E. Groveland Park benefits from its irreplaceable setting within a gated historic park environment-offering residents a quiet, residential atmosphere rarely found this close to Downtown Chicago-while still providing convenient access to Lake Shore Drive, major employment centers, public transit, and continued investment activity throughout Bronzeville. This offering is ideally suited for investors seeking durable in-place income with measured value-add upside, minimal operational disruption, and strong long-term appreciation fundamentals. With a modest $50,000 light-renovation plan to capture rent premiums, 619 E. Groveland Park delivers stabilized cash flow today and a clear path to enhanced returns tomorrow-within one of Chicago's most iconic and supply-restricted residential enclaves.
Property Features
10 Beds
11 Baths
0 Sqft
Built in 1904
0 Acres
3 Stories
Lake Michigan - Cook County
Siding: Brick
$13,510 / yr property tax
Cook County
Additional Photos
Contact Information
Anthony Hardy
Keller Williams Chicago ONEChicago
312-216-2422
Location
Listing Agent: Anthony Hardy 312-216-2422
Broker: Keller Williams Chicago ONEChicago 312-216-2422 Listing Site
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Keller Williams Chicago ONEChicago 312-216-2422 Listing Site
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
LakeHouse.com
Printed Jul 18, 2026
Photo Gallery
$1,200,000
10
Beds
11
Baths
0
Sqft
619 E Groveland Park, Chicago, Illinois, 60653
By contacting this agent you agree to these Terms and Conditions.
MLS# 12573303
Pleased to present 619 E. Groveland Park, a 7-unit multifamily
$1,200,000
619 E Groveland Park, Chicago, Illinois, 60653
10
Beds
11
Baths
0
Sqft
0
Acres
$1,200,000
619 E Groveland Park, Chicago, Illinois, 60653
10 Beds
11 Baths
0 Sqft
0 Acres
Pleased to present 619 E. Groveland Park, a 7-unit multifamily investment located within the gated, landmarked Groveland Park community in Chicago's Bronzeville neighborhood. Offered at a list price of $1,200,000, the property provides an opportunity to acquire an apartment asset in one of Chicago's most architecturally significant and supply-constrained submarkets, with a light value-add plan supported by a $50,000 renovation budget. Originally constructed in the early 1900s and thoughtfully revitalized, the property encompasses approximately 5,697 square feet across a unit mix of (3) 2-bedroom + den / 1-bath units and (4) 1-bedroom / 1-bath units, plus a garden unit. Unit sizes generally range from approximately 525-950 SF (with the garden at ~650 SF), featuring efficient layouts and individual unit appeal that support operational stability and long-term tenant retention. In-place financial performance is strong and stabilized. The asset is currently generating $127,800 in gross annual rental income ($10,650/month). With a 4% vacancy assumption (-$5,152) and $1,008 in annual laundry income, effective gross income totals approximately $123,656. Operating expenses are efficiently managed at approximately $30,171 (a 24% expense ratio), resulting in a current NOI of $93,484. Value-add upside is clear and executable via a light renovation program. A $50,000 renovation budget (light interior enhancements and unit turns) supports mark-to-market rent growth from $10,650/month to $13,200/month (gross annual rent from $127,800 to $158,400). Under the pro forma scenario (still assuming 4% vacancy and $1,008 in laundry income), effective gross income increases to approximately $153,032, with total expenses of approximately $31,377 (a 21% expense ratio), producing a pro forma NOI of $121,655. On a total cost basis of $1,250,000 (purchase price + $50,000 renovation), this equates to an estimated 9.73% pro forma cap rate and a 7.89 GRM on total basis. At the offered price, the asset is positioned at approximately $211/SF and $171,429/unit, aligning well with boutique multifamily pricing in Bronzeville and the broader South Lakefront. A sample financing scenario utilizing 80% LTV ($960,000 loan), 6.00% interest, and 30-year amortization results in an estimated annual debt service of approximately $69,068 and a 1.35x DSCR under the pro forma. This structure generates projected net cash flow of $24,416 in-place (10.17% cash-on-cash on $240,000 equity) and $52,587 post-renovation (18.13% cash-on-cash on $290,000 total equity, inclusive of the $50,000 renovation budget). Beyond the numbers, 619 E. Groveland Park benefits from its irreplaceable setting within a gated historic park environment-offering residents a quiet, residential atmosphere rarely found this close to Downtown Chicago-while still providing convenient access to Lake Shore Drive, major employment centers, public transit, and continued investment activity throughout Bronzeville. This offering is ideally suited for investors seeking durable in-place income with measured value-add upside, minimal operational disruption, and strong long-term appreciation fundamentals. With a modest $50,000 light-renovation plan to capture rent premiums, 619 E. Groveland Park delivers stabilized cash flow today and a clear path to enhanced returns tomorrow-within one of Chicago's most iconic and supply-restricted residential enclaves.
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Property Details
HOME DETAILS
10 Beds
11 Baths
0 Sqft
Built in 1904
0 Acres
3 Stories
WATER & VIEW
Lake Michigan - Cook County
EXTERIOR
Siding: Brick
FINANCIAL & COMMUNITY
$13,510 / yr property tax
Cook County
See More Details
Location
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About Lake Michigan - Cook County
Looking for lakefront homes on Lake Michigan - Cook County? Find lake estate for sale here. Located in Cook County, Illinois. Discover the best lake front listings - properties, land, and acreage to build your dream lake house, cottage or cabin on. Search for an agent who specializes in lake property to help you buy or sell a home.
Ad Statistics
Ad Number
7297894
Viewed
113 times
Listing Status
Active
Added
Feb 20, 2026
Last Refresh
Jul 18, 2026 07:37:44 AM
Listing Information
Data Source
Midwest Real Estate Data, LLC
Source Property ID
12573303
Listing Agent: Anthony Hardy 312-216-2422
Broker: Keller Williams Chicago ONEChicago 312-216-2422 Listing Site
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Keller Williams Chicago ONEChicago 312-216-2422 Listing Site
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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