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1840-1854 South Fairfield

Chicago, IL

1840-1854 South Fairfield is a four-building, 26-unit apartment complex in a quiet, tree-lined neighborhood of Douglas Park in Chicago, IL. The property is surrounded by Douglas Park to the West, Cinespace Film Studios (and the famed Lagunitas Brewery) to the East, the Medical District to the North and train tracks to the immediate south. Crosstown Real Estate Advisors had been managing this bank-owned property for over two years and negotiated a deal to purchase the properties at just over $19,000 per unit.  The plan is to upgrade the interiors (new fixtures and appliances, refinish hardwood floors, install new HVAC, repaint) and exteriors (roofs and facade) of the buildings and stabilize the property over the course of 12-16 months.