A well-maintained 7-unit multifamily building located at 1415 West Erie Street in Chicago was recently sold for $1,150,000. All units within this property are rented below market value, and tenants are responsible for their own gas and electric expenses. The building offers an excellent cash flow potential and is conveniently situated near various shopping amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,150,000
• Units: 7
• Price Per Unit: $164,286
• Buyer's Representative: Eric Janssen - CRER (Chicago Real Estate Resources)
• Seller's Representative: Marlene Gonzalez - Smart Home Realty

Eric Janssen from CRER represented the buyer in this property transaction, while Marlene Gonzalez from Smart Home Realty facilitated the sale. The buyer saw the potential in this investment due to the property's current rental situation, offering a good opportunity for cash flow and growth. Both parties worked together to close the deal successfully.